Nuclear Energy One Of Cheapest Options And Will Continue To Be ‘Part Of Solution’, Says Lloyds Register

9 Feb (NucNet): Nuclear energy is one of the cheapest options for power generation when lifecycle costs are taken into account and will continue be part of the solution to climate change long into the future, a report by Lloyds Register says. The report, ‘Lloyd’s Register Technology Radar – The Nuclear Perspective’, says that in an atmosphere in which governments are committed to lowering their dependence on fossil fuels, nuclear is a key low-carbon option for baseload power generation. Although public acceptance is a major challenge in some countries, nuclear is likely to contribute to the energy mix “for the foreseeable future”. The potential contribution of small modular reactors, or SMRs, is unclear, the report says, although its impact will most likely apply to smaller grids and isolated markets. However, the underlying modularisation technology is expected to have a major impact on the sector. Renewable energy sources such as wind and solar are now reaching cost parity with their fossil fuel-based alternatives, but intermittency is a challenge that has yet to be solved, the report says. “While oversupply can to some extent be traded through regional grids, baseload power is still needed for when the wind fails to blow or the sun fails to shine.” The report is online: http://bit.ly/2kvix8I