Just a few weeks ago, Bloomberg New Energy Finance published an update of the levelized costs of electricity.
According to BNEF, in the United Kingdom and Germany, wind power costs respectively $85 and $80 / MWh and is now considerably expensive than electricity generated by coal plants (respectively $ 115 and $ 106 / MWh) and that produced by combined cycle gas turbine (respectively $ 115 and $ 118 / MWh).
Furthermore, BNEF noted that in Europe the cost of nuclear energy is 158 $ / MWh, of course subject to variations by country.
These figures can be compared to others, published by neutral and trustworthy organizations; they show that the cost of renewable energy is no longer prohibitive.
The development of these energy sources will take time, however, for technical and financial reasons. It is not possible to finance a too fast substitution of electricity production means as well as the development of such energy sources calls a major adaptation of distribution networks and of networks control.
By cons, nothing can prevent states or local authorities to set clear policy lines except … a lack of will.
These figures also give us the opportunity to question the nuclear energy industry. Should we really look at it as a sustainable cash cow or does it lay already on the side of dilemmas? In the latter case, what is the interest in France and some other European countries to invest heavily in this declining industry (should they be leaders on that market) instead of taking a good seat in the renewable energies industry?
Leave a Reply