preview

Cost Of Nuclear Energy

Decent Essays
Open Document

The world today functions on electricity and technology. Throughout the generations, scientists and engineers have been innovative and discovered ways to create electricity. The most popular method, as of right now, is fossil fuels. However, the world is slowly running out and soon another method will have to replace fossil fuels. The obvious answers are natural resources, such as wind, water, and solar power, which will not run out. However, all these sources are unreliable, and therefore not a steady enough method to replace fossil fuels. Nuclear power can end the search for a power source and supply much more electricity at a smaller cost. Although nuclear power is one of the most efficient options to replace fossil fuels, three problems …show more content…

Although waste disposal is one of the bigger problems, the cost to keep nuclear energy running is also a problem since it is not yet competitive with coal and natural gas(1). Many costs are attached to nuclear energy including capital, plant operating costs, and external costs. The capital costs include the cost of the site, manufacture and labor, and the financing of the nuclear power plants. Building the nuclear reactors needed to generate electricity involves thousands of workers, huge amounts of materials, such as steel and concrete, and several systems provide electricity, ventilation, information, control and communication. The cost of the construction of the plant and the cost of the manual laborers make up most of the capital cost. Operating the plant is expensive too. Operating, maintenance, and fuel are all included in operating costs. Fuel management and final waste disposal are included in the fuel cost. The external costs are the costs that come environmentally and health wise. Any effects that the plant has on the environment, any effect that has to be fixed or payed for is included in the external cost. However, the external cost of nuclear power is much cheaper than the cost of fossil fuels, which the World Nuclear Association explains, “Nuclear energy averages 0.4 euro cents/kWh, much the same as hydro, coal is over 4.0 cents (4.1-7.3), gas ranges 1.3-2.3 cents and only wind shows up better than nuclear, at 0.1-0.2 cents/kWh average”. (4)Although nuclear energy has many costs, the effect on the environment is much less than other forms of power, other than wind. Nuclear power is the only energy producing industry which takes full responsibility for its waste and cost, according

Get Access