Nuclear power is economically unviable compared to alternative energy sources
The economic viability of nuclear power is contested, with some analyses indicating high capital costs and unfavorable comparisons to rapidly cheapening renewables, while other studies find nuclear power to be cost-competitive and economically viable depending on regional energy markets and discount rates.
The retrieved papers present a divided picture of nuclear economics. Papers [3] and [6] emphasize that nuclear power is significantly more expensive than renewable sources like solar and wind, and that its costs have risen over time. Conversely, papers [1], [4], [5], and [10] demonstrate that under certain discount rates, gas-price thresholds, or regional grid conditions (such as in Indonesia or Bangladesh), nuclear power can be economically viable and competitive with fossil fuels or local alternatives. Because the literature contains robust arguments and regional case studies on both sides of the economic comparison, the verdict is CONTESTED.
Fabian Präger, Christian Breyer, H. Fell, C. von Hirschhausen, C. Kemfert, Björn Steigerwald, T. Traber, Ben Wealer. Evaluating nuclear power's suitability for climate change mitigation: technical risks, economic implications and incompatibility with renewable energy systems. 2024. https://doi.org/10.3389/frevc.2024.1242818
Evaluates key arguments and highlights significant cost disparities showing nuclear power is more expensive than solar and wind.
M. A. Rahmanta, A. W. Harto, Alexander Agung, M. K. Ridwan. Nuclear Power Plant to Support Indonesia’s Net Zero Emissions: A Case Study of Small Modular Reactor Technology Selection Using Technology Readiness Level and Levelized Cost of Electricity Comparing Method. 2023. https://doi.org/10.3390/en16093752
Finds that SMR levelized costs of electricity can be competitive with local alternatives such as coal and hydropower.
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Jens Weibezahn, Björn Steigerwald. The Economics of Nuclear Power. 2022. https://doi.org/10.22439/csei.pb.015
Notes that the cost of nuclear power has increased while renewables have become much cheaper, making nuclear multiple times more expensive.
Muhammad Adnan Hayat, Shahid Hasan, A. Elshurafa. Strategic priorities and cost considerations for decarbonizing electricity generation using CCS and nuclear energy. 2024. https://doi.org/10.1016/j.egyr.2024.08.017
Shows that nuclear energy can be more cost-effective than natural gas power plants depending on gas price thresholds.
Rizki Firmansyah Setya Budi, M. Birmano, E. S. Amitayani. SELECTION OF LARGE-SCALE NUCLEAR POWER PLANT BASED ON ECONOMIC AND RELIABILITY ASPECTS IN INDONESIAN POWER SYSTEM. 2021. https://doi.org/10.32479/ijeep.11107
Demonstrates that large-scale nuclear power plants can achieve competitive levelized unit electricity costs in specific regional power systems.
Gour Gobinda Goswami, Umama Rahman, Mehdi Chowdhury. Estimating the economic cost of setting up a nuclear power plant at Rooppur in Bangladesh.. 2022. https://doi.org/10.1007/s11356-021-18129-3
Concludes that nuclear power is cost-competitive for baseload power generation compared to other local facilities in developing contexts.
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