Nuclear decline vs. record renewables growth
The International Energy Agency (IEA) has just released its ‘Renewables 2023’ report and it makes for a striking contrast with the nuclear industry’s malaise. Nuclear power suffered a net loss of 1.7 GW capacity in 2023, whereas renewable capacity additions amounted to a record 507 GW, almost 50 percent higher than 2022. This is the 22nd year in a row that renewable capacity additions set a new record, the IEA states. Solar PV alone accounted for three-quarters of renewable capacity additions worldwide in 2023.
Nuclear power accounts for a declining share of share of global electricity generation (currently 9.2 percent) whereas renewables have grown to 30.2 percent. The IEA expects renewables to reach 42 percent by 2028 thanks to a projected 3,700 GW of new capacity over the next five years in the IEA’s ‘main case’.
The IEA states that the world is on course to add more renewable capacity in the next five years than has been installed since the first commercial renewable energy power plant was built more than 100 years ago.
Solar and wind combined have already surpassed nuclear power generation and the IEA notes that over the next five years, several other milestones will likely be achieved:
— In 2025, renewables surpass coal-fired electricity generation to become the largest source of electricity generation
— In 2025, wind surpasses nuclear electricity generation
— In 2026, solar PV surpasses nuclear electricity generation
— In 2028, renewable energy sources account for over 42 percent of global electricity generation, with the share of wind and solar PV doubling to 25 percent.
An estimated 96 percent of newly installed, utility-scale solar PV and onshore wind capacity had lower generation costs than new coal and natural gas plants in 2023, the IEA states. Tripling renewables
The IEA states in its ‘Renewables 2023’ report that:
In the IEA’s ‘accelerated case’, 4,500 GW of new renewable capacity will be added over the next five years (compared to 3,700 GW in the ‘main case’, nearing the tripling goal. Tripling nuclear?
The goal of tripling renewables by 2030 is a stretch but it is not impossible. Conversely, the ‘pledge’ signed by just 22 nations at COP28 to triple nuclear power by 2050 appears absurd.
The Labor federal government signed Australia up to the renewables pledge but not the nuclear pledge. The Coalition wants to do the opposite, and also opposes the Labor government’s target of 82 per cent renewable power supply by 2030.
One of the lies being peddled by the Coalition is that nuclear power capacity could increase by 80 percent over the next 30 years. That is based on a ‘high case’ scenario from the IAEA. However the IAEA’s ‘low case’ scenario — ignored by the Coalition — is for another 30 years of stagnation.
So should we go with the IAEA’s high or low scenarios, or split the difference perhaps?
According to a report by the IAEA itself, the Agency’s ‘high’ forecasts have consistently proven to be ridiculous and even its ‘low’ forecasts are too high — by 13 percent on average.
Nuclear power won’t increase by 80 percent by 2050 and it certainly won’t triple; indeed it will struggle to maintain current output given the ageing of the reactor fleet and recent experience with construction projects. Comparing nuclear and renewables in China
China’s nuclear program added only 1.2 GW capacity in 2023 while wind and solar combined added 278 GW. Michael Barnard noted in CleanTechnica that allowing for capacity factors, the nuclear additions amount to about 7 terrawatt-hours (TWh) of new low carbon generation per year, while wind and solar between them will contribute about 427 TWh annually, over 60 times more than nuclear.
“The NuScale announcement follows several other setbacks for advanced reactors. Last month, X-Energy, another promising SMR company, announced that it was canceling plans to go public. This week, it was forced to lay off about 100 staff.
“In early 2022, Oklo’s first license application was summarily rejected by the Nuclear Regulatory Commission before the agency had even commenced a technical review of Oklo’s Aurora reactor.
“Meanwhile, forthcoming new cost estimates from TerraPower and XEnergy as part of the Department of Energy’s Advanced Reactor Deployment Program are likely to reveal substantially higher cost estimates for the deployment of those new reactor technologies as well.” Nuclear decline vs. record renewables growth
The International Energy Agency (IEA) has just released its ‘Renewables 2023’ report and it makes for a striking contrast with the nuclear industry’s malaise. Nuclear power suffered a net loss of 1.7 GW capacity in 2023, whereas renewable capacity additions amounted to a record 507 GW, almost 50 percent higher than 2022. This is the 22nd year in a row that renewable capacity additions set a new record, the IEA states. Solar PV alone accounted for three-quarters of renewable capacity additions worldwide in 2023.
Nuclear power accounts for a declining share of share of global electricity generation (currently 9.2 percent) whereas renewables have grown to 30.2 percent. The IEA expects renewables to reach 42 percent by 2028 thanks to a projected 3,700 GW of new capacity over the next five years in the IEA’s ‘main case’.
The IEA states that the world is on course to add more renewable capacity in the next five years than has been installed since the first commercial renewable energy power plant was built more than 100 years ago.
Solar and wind combined have already surpassed nuclear power generation and the IEA notes that over the next five years, several other milestones will likely be achieved:
— In 2025, renewables surpass coal-fired electricity generation to become the largest source of electricity generation
— In 2025, wind surpasses nuclear electricity generation
— In 2026, solar PV surpasses nuclear electricity generation
— In 2028, renewable energy sources account for over 42 percent of global electricity generation, with the share of wind and solar PV doubling to 25 percent.
An estimated 96 percent of newly installed, utility-scale solar PV and onshore wind capacity had lower generation costs than new coal and natural gas plants in 2023, the IEA states. Tripling renewables
The IEA states in its ‘Renewables 2023’ report that:
In the IEA’s ‘accelerated case’, 4,500 GW of new renewable capacity will be added over the next five years (compared to 3,700 GW in the ‘main case’, nearing the tripling goal. Tripling nuclear?
The goal of tripling renewables by 2030 is a stretch but it is not impossible. Conversely, the ‘pledge’ signed by just 22 nations at COP28 to triple nuclear power by 2050 appears absurd.
The Labor federal government signed Australia up to the renewables pledge but not the nuclear pledge. The Coalition wants to do the opposite, and also opposes the Labor government’s target of 82 per cent renewable power supply by 2030.
One of the lies being peddled by the Coalition is that nuclear power capacity could increase by 80 percent over the next 30 years. That is based on a ‘high case’ scenario from the IAEA. However the IAEA’s ‘low case’ scenario — ignored by the Coalition — is for another 30 years of stagnation.
So should we go with the IAEA’s high or low scenarios, or split the difference perhaps?
According to a report by the IAEA itself, the Agency’s ‘high’ forecasts have consistently proven to be ridiculous and even its ‘low’ forecasts are too high — by 13 percent on average.
Nuclear power won’t increase by 80 percent by 2050 and it certainly won’t triple; indeed it will struggle to maintain current output given the ageing of the reactor fleet and recent experience with construction projects. Comparing nuclear and renewables in China
China’s nuclear program added only 1.2 GW capacity in 2023 while wind and solar combined added 278 GW. Michael Barnard noted in CleanTechnica that allowing for capacity factors, the nuclear additions amount to about 7 terrawatt-hours (TWh) of new low carbon generation per year, while wind and solar between them will contribute about 427 TWh annually, over 60 times more than nuclear.
They'll stick with it as a political gimmick
that's it - that's all it is.
If Dutton fluked winning government - he'd just ditch the idea ------- like he ditched the 'I'll have another referendum on it when we get into government'
uh huh - the day after the referendum - he was asked when he'd have his referendum - and he said 'oh, I think people are sick of referendums'
so, his 'another referendum' was a bullshit referendum - so too will be his nuke idea.
What my guess would be in how he would ditch it is different to the ditching of the referendum -
for the nukes - he'd have an 'inquiry' ------ a big fat long, pay the mates inquiry. It will go on for ages and ages --------- and in the end ------------ pffffffffffffft, nothing will be done.
Along the way, he'll get to blame Labor and the Greens, because of the impossibility of overturning the Liberal Party ban
, nearing the tripling goal.
