If all „imponderables“ are factored into the total cost of a nuclear power plant, the estimated price per
installed gigawatt (GW) increases significantly.
These imponderables include:
1. Possible additional costs often excluded from standard calculations
Waste Disposal:
As mentioned earlier, the long-term storage of nuclear waste is extremely expensive and uncertain.
Conservative estimates show that these costs can rise substantially if unforeseen technical or societal
challenges occur.
Additional Costs: +€2–3 billion per GW.
Accidents and Risks:
Even with modern safety technology, the residual risk of a major accident remains.
The potential costs of a disaster (e.g., Fukushima or Chernobyl) are often not fully accounted for because
they are almost incalculable.
Additional Costs:
If all risks were theoretically insured, electricity costs could increase by €4–5 billion per GW.
Decommissioning Costs:
Decommissioning a nuclear plant can be more expensive than anticipated.
In Germany, estimates for decommissioning older plants are already €1–2 billion per facility.
Additional Costs: +€1–2 billion per GW.
Construction Delays and Costs Overruns:
Projects like Hinkley Point C (UK) or Olkiluoto 3 (Finland) show that construction timelines often extend by
10–15 years, with costs doubling or tripling.
Additional Costs: +€3–5 billion per GW.
Social Costs:
Protests, political conflicts, and site issues (e.g., for waste repositories) can drive up overall costs.
Additional Costs: Estimated at €1 billion or more.
2. Example of Total Costs per GW
Considering all these uncertainties, the actual cost per GW look like this:
Costs Category
Costs (per GW)
Base construction costs
€6–12 billion
Financing costs
€2 – 4 billion
Waste disposal
€2 – 3 billion
Decommissioning
€1 – 2 billion
Accident risks (theoretical insurance)
€4 – 5 billion
Delays and cost overruns
€3 – 5 billion
Social costs
€1 billion
Total costs per GW
€19 – 32 billion
The cost per GW for a DESERT-VISION multifunctional thermo-solar power plant is €4 billion.
3. Cost per kWh:
When these costs are translated into the price of electricity, the Levelized Cost of Electricity (LCOE) rises to
15–30 cents per kWh, making nuclear energy far less competitive compared to wind or solar power (5–10
cents per kWh).
Conclusion:
When factoring in all uncertain costs, a nuclear power plant could cost at least €19–32 billion per
installed GW, depending on the country, technology, and risk management.
These costs often make nuclear energy viable only through significant government subsidies, and
it remains far more expensive than renewable energy in the long run.