Recent developments reflect a clear shift toward nuclear power. For instance, Microsoft is negotiating to restart Unit 1 of the Three Mile Island nuclear plant, proposing a price of approximately $100 per megawatt-hour. Although this cost surpasses that of solar and wind power, it emphasizes the value of consistent, year-round electricity.
This move aligns with a growing trend of tech companies investing in nuclear energy, driven by the demand for stable, emission-free power throughout the year.
An underestimated potential
A new study by researchers at the Norwegian University of Science and Technology (NTNU) evaluating Europe's energy system to 2050 suggests that even though nuclear power is relatively expensive, it could lead to an overall more affordable energy strategy. Importantly, nuclear energy's inclusion could minimize the need for expensive grid enhancements and large-scale energy storage.
Beyond economic benefits, nuclear power can help reduce environmental impacts by requiring less land than solar or wind farms and by lowering air pollution. It can also complement renewable sources, enabling more efficient use of wind and solar power and reducing energy curtailment.
Enhancing the energy mix
The NTNU study analyzed optimal energy solutions to meet projected net-zero emissions targets through 2050. The findings indicate that nuclear energy will remain essential, whether Europe advances with cost-effective, standardized reactors or continues at a slower construction pace. "A consumption pattern that requires increasing amounts of stable power will make nuclear energy more valuable as a part of the energy mix," the researchers noted.
Cost-effective approaches include adopting standard reactor designs, as demonstrated by Abu Dhabi's Barakah plant, which minimized expenses through strategic planning and reduced costs by deploying multiple reactors at a single site.
Learning from past projects
Martin Hjelmeland, a postdoctoral fellow and lead author from NTNU's Department of Electric Energy, highlighted lessons from Finland's Olkiluoto 3 project, which took 18 years to complete, far exceeding initial expectations in both time and cost. Only half of its design was finalized before construction began, and regulatory changes during the project led to significant delays and budget overruns.
In scenarios where Europe fails to meet the typical 6 to 8-year construction timeframe, onshore wind power may dominate. Nonetheless, nuclear energy is expected to maintain a significant role in the continent's energy mix.
Associate Professor Jonas Kristiansen Noland, also from NTNU's Department of Electric Energy, pointed out that nuclear power could become relevant even in countries rich in hydropower, such as Norway, depending on cost trends and the development of onshore wind, as well as the demand for stable power for industries or data centers.
The NTNU researchers conclude that nuclear energy can play a critical role in Europe's future energy solutions, provided that lessons from past projects inform better practices and balanced policies ensure nuclear energy is considered alongside other low-carbon sources. This approach will help Europe address its energy challenges effectively.
Research Report:The role of nuclear energy and baseload demand in capacity expansion planning for low-carbon power systems
Related Links
Norwegian University of Science and Technology
Nuclear Power News - Nuclear Science, Nuclear Technology
Powering The World in the 21st Century at Energy-Daily.com
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