Grattan Institute Should Australia invest in nuclear power?
Sep 29, 2024
Alison Reeve, an energy expert at the Grattan Institute, dives into the heated debate on nuclear power in Australia ahead of the election. She discusses the potential benefits and hurdles of adopting nuclear energy for achieving net zero emissions by 2050. Reeve compares the costs of nuclear versus renewable sources and highlights the challenges of shifting from coal. She also addresses regulatory issues and public perception of nuclear power while examining Australia's unique position in the global energy landscape. It's a thought-provoking exploration of the future of energy in Australia.
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Nuclear Plants: Costly & Delayed
- Nuclear power stations take large construction periods and space, often running over time and budget.
- Australia's track record for big infrastructure projects suggests nuclear plants wouldn't be ready by 2035-37 as planned.
Nuclear Costs More Than Renewables
- Nuclear power is generally the most expensive option in energy modelling for Australia.
- Solar, wind, storage, and some gas backup consistently appear as the most cost-effective energy mix.
Challenges Meeting 2030 Targets
- Australia is reasonably on track to meet 2030 emissions targets, though much depends on electricity sector progress.
- Delays in renewables and transmission build-out risk over-reliance on expensive coal extensions as temporary insurance.