2 min read
When the UK’s Hinkley nuclear plant first underwent construction, nuclear was a cleaner option than most other energy sources, and cheaper than solar and wind power. But new data has recently come out suggesting that the incomplete Hinkley plant will actually be much more expensive in the long run. For those familiar with green energy, this doesn’t come as a surprise… for the Hinkley builders, however, this forecast spells trouble.
In an unpublished report by the UK’s National Audit Office (NAO), large-scale solar is expected to cost around £50-75 per megawatt hour (MWh) of power by 2025. New nuclear, on the other hand, is expected to cost around £85-125/MWh. That’s a significant change from the 2010 and 2013 prediction that nuclear would actually be cheaper than solar and wind power.
This is the first time the UK has presented data expecting solar and wind to be a cheaper option to nuclear energy. “The [energy] department’s forecasts for the levelised cost of electricity of wind and solar in 2025 have decreased since 2010. The cost forecast for gas has not changed, while for nuclear it has increased,” the NAO said.
Molly Scott Cato, a Green party member of the European Parliament said, “These latest figures confirm what many of us have been saying for years: that the Hinkley project is a dud. The cost of renewables is tumbling and Hinkley will become a giant white elephant as it struggles to compete with cheaper renewable options. Research has shown that solar power would be a less costly way of generating the equivalent amount of power, and now the government’s own projections show that onshore wind too will be cheaper than nuclear by the time Hinkley is built.”
Niall Stuart, chief executive of the trade body Scottish Renewables, is excited about what this means for renewable energy. “These numbers speak for themselves: onshore wind and solar will be significantly better value than all other large scale sources of power in the UK by 2025. It is time to start backing the two technologies to deliver the clean power we need to hit our climate change targets and the cheap electricity required to keep bills down for consumers.”
Interestingly, when the data came out, Theresa May’s government made a surprise decision to delay a deal on Hinkley, prompting new talks about renewables and other alternative energy sources for Britain. Currently, renewables generate 25.1% of the UK’s electricity, but if the UK is serious about hitting their goals from the Paris Agreement, the Hinkley plant just might not be completed…
Are you ready to make the switch to solar and start saving money and the environment? Solar is already cheaper than energy from your utility. Call or contact us at 407.331.9077. We’ll be happy to help you figure out your best solar option.
