Skull Pilot
Diamond Member
- Nov 17, 2007
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Expectation Management: Renewables
Can this back-of-the-envelope calculation be right? Are renewables in reality 13 times more expensive than nuclear?.....
In conclusion, an investment of approximately USD 1,800 bn between 2004 and 2014 (this leaves out hydro) has provided 1.4 percent of world's energy consumption during the same period of time. Calculated from these figures, if the world's entire energy consumption would be supplied by these renewable energy sources (wind, solar and other renewables excluding hydro) the price tag would be around USD 129 trillion.
To put this number in perspective let’s compare it to the massive nuclear power program started in mid 70’s in France, where the country installed 56 reactors over 15 years at an estimated cost of some FF 400bn in 1993 currency, i.e. some EUR 84bn or USD 76 bn today taking inflation into account. As a result of this decision, France now claims a substantial level of energy independence and almost the lowest cost electricity in Europe. It also has an extremely low level of CO2 emissions per capita from electricity generation, since over 90% of its electricity is nuclear or hydro, nuclear’s share being some 75 percent today. If from these figures we calculate an estimate for how much it would cost to build a nuclear infrastructure that supplies 100% of world energy consumption, we end up at a figure of USD 10 trillion. This is based on the cost of France’s nuclear infrastructure (USD 76bn), France’s share of world nuclear consumption (17.2%) and nuclear’s share of world energy consumption (4.4%).
Can this back-of-the-envelope calculation be right? Are renewables in reality 13 times more expensive than nuclear?.....
In conclusion, an investment of approximately USD 1,800 bn between 2004 and 2014 (this leaves out hydro) has provided 1.4 percent of world's energy consumption during the same period of time. Calculated from these figures, if the world's entire energy consumption would be supplied by these renewable energy sources (wind, solar and other renewables excluding hydro) the price tag would be around USD 129 trillion.
To put this number in perspective let’s compare it to the massive nuclear power program started in mid 70’s in France, where the country installed 56 reactors over 15 years at an estimated cost of some FF 400bn in 1993 currency, i.e. some EUR 84bn or USD 76 bn today taking inflation into account. As a result of this decision, France now claims a substantial level of energy independence and almost the lowest cost electricity in Europe. It also has an extremely low level of CO2 emissions per capita from electricity generation, since over 90% of its electricity is nuclear or hydro, nuclear’s share being some 75 percent today. If from these figures we calculate an estimate for how much it would cost to build a nuclear infrastructure that supplies 100% of world energy consumption, we end up at a figure of USD 10 trillion. This is based on the cost of France’s nuclear infrastructure (USD 76bn), France’s share of world nuclear consumption (17.2%) and nuclear’s share of world energy consumption (4.4%).