The National Energy System Operator estimates that up to 4.1GW of nuclear will be needed to deliver a clean power system in the UK by 2030, with scope for further capacity to be delivered if new small modular reactor (SMR) technology can be developed. Overall, the government’s aim seems to be to ramp up nuclear capacity to 24GW by 2050 – though that is still to be confirmed, with new ‘roadmap’ review underway. It certainly would be hard. And expensive. But the money seems to be there for things like this. For example, Rolls Royce’s Small Modular Reactor design has been backed by up to £599m from the National Wealth Fund in a partnership deal with Great British Energy - Nuclear (GBE-N). This, it is said , will enable work to begin on the delivery of the UK's first SMR on Anglesey in North Wales, with £2.5bn having been allocated to SMR development. And over £14bn has been provided for the next large reactor at Sizewell. With, presumably, more to come. However, major projects...
In a key new report entitled ‘24 / 7 Renewables: the economics of firm solar and wind’, the International Renewable Energy Agency (IRENA) says that hybrid renewables plus battery systems can deliver firm power at lower costs than fossil fuels when combined to provide ‘round-the-clock’ electricity supply. For example, it says the costs of ‘firm levelised supply’ for solar projects combined with storage now range from $54-82 per megawatt-hour (MWh) in most regions, compared to $70–85 per MWh for new coal in China and $100 per MWh for new gas globally. The IRENA report comes at a time when the conventional metric for comparing power cost, the Levelised Cost of Energy (LCOE), has come under attack for ignoring the full cost of using variable renewables. For example, the LSE Grantham Institute says LCOE doesn’t measure the full system costs of balancing variable renewable and some see this as undermining the case for renewables. IRENA accepts that ‘plant level metrics such as LCOE mu...