How much does nuclear power cost?

Answer 1

There are widely differing estimates of the cost of nuclear power. The reason for this is not easy to understand, but the effects are. One estimate says that nuclear power is about the same cost as power from fossil fuels, about 3 US cents per kWh. That same year, an MIT study put the price at 6.7 cents. Current statements from the nuclear industry in the United States provide a cost a bit more. An updated MIT study in 2009 put the cost at 8.4 cents. On the other hand, in 2009, Craig A. Severance, an expert on the economics of power generation with over thirty years experience, estimated the price of power is estimated at 25 to 30 cents per kWh in his paper "Business Risks and Costs of New Nuclear Power." Some other estimates are similarly high.

Part of the problem seems to be that there is a lot of industry self promotion going on, possibly from both proponents and adversaries, potential obscuring the facts. Another part of the problem is that there are a number of so called "hidden" subsidies provided to nuclear power plants that are often not included in the equations (examples being provisions of the Price Anderson Act, government loan guarantees, and government guarantees of waste disposal, all of which are costly or potentially costly to the taxpayer). And part of the problem is that obsolete data is widely available for use, and since change is so rapid, it can be very wrong even though it is only a few years old.

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Answer 2

It takes a lot of energy to start, but once it starts the energy produced is much greater.