Nuclear power generation in Japan expected to cost more than solar power in 2030: ministry
TOKYO – Japan’s Ministry of Economy, Trade and Industry has estimated that the cost of nuclear power generation will be higher than solar and other power by 2030, jeopardizing benefits of nuclear energy prices.
The ministry presented the expected cost of power generation sources – such as nuclear, thermal and solar – in 2030 at an expert committee meeting on July 12. Reflecting the increased cost of safety measures due to the 2011 accident at Tokyo Electric Power’s (TEPCO) Holding Inc.’s Fukushima Daiichi nuclear power plant, the ministry estimated the cost of power generation nuclear at “the upper end of 11 yen or more” per kilowatt hour. Although nuclear power has been the “cheapest” source of energy in past estimates, it has become more expensive than other sources such as solar power.
The cost of nuclear power generation has increased by more than 10% from the 10.3 yen or more per kilowatt hour in the 2015 estimate. In the latest forecast, the cheapest source is commercial solar power. which oscillates “between the lower range of 8 yen and the upper range of 11 yen per kilowatt hour, followed by residential solar energy” between the upper range of 9 yen and the lower range of 14 yen. ” per kilowatt hour.
(Japanese original by Daisuke Oka, Department of Economic News)