Graph of the Day: Wind and solar subsidies half the cost of nuclear, CCS

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Charts from recent EU study reveal overall cost of new-build solar PV and wind generation 50% lower than for new nuclear or CCS.

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After a week which saw the use of renewable energy support schemes in Australia described as “plain crazy”, it seems like a good time to take another look at the study published last month by Agora Energiewend that shows European subsidies for solar and wind essentially come at half the price of those for nuclear or CCS.

The analysis – based on a comparison of European subsidies for low-carbon energy systems – found that new wind and solar PV could generate energy for an overall cost of up to 50 per cent less than new nuclear or coal or gas with (as yet unavailable) carbon capture and storage technology.

“Today’s feed-in tariffs for wind and PV in Germany are up to 50 per cent lower than those offered for new nuclear in the UK according to the Hinkley Point C agreement,” the report says, noting that for CCS, with the technology still in demonstration phase, estimates suggest it would cost about as much as new nuclear power or more.

“Even today and under conservative assumptions, a generation mix consisting of PV, onshore wind and gas is approximately 20 percent less expensive than a mix consisting of new nuclear power (based on the Hinkley Point C agreement) and gas,” the report says.

Overall, it says, “onshore wind at sites with a good resource potential and utility-scale PV represent the low-carbon technologies with the lowest cost,” while power from nuclear, as well as gas and coal plants with CCS represent the low-carbon technologies with the highest cost.

But we’ll let the charts do the talking…

 

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Sophie Vorrath

Sophie is editor of OneStepOffTheGrid.com.au and deputy editor of its sister site, RenewEconomy.com.au. Sophie has been writing about clean energy for more than a decade.

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4 Comments
  1. juxx0r 5 years ago

    Those graphs are going to look awfully silly in 2023.

    • Adam Lippiatt 5 years ago

      I read this article but I do not understand the comment. Are you able to elaborate please?

      • juxx0r 5 years ago

        They compare the difference between renewables now and Nuclear 2023. Now if renewables keeps falling in price like it has been the gap will grow ever greater. Which will make the Brits feel a little hard done by come 2023.

        • nakedChimp 5 years ago

          The dudes they sent off to the other side of the planet will feel the same then, if current politics stays it’s course..

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