We are now witnessing an energy revolution. We live in an age of electrification amid a climate crisis that demands clean energy solutions. Nuclear energy, an energy source that has faced skepticism for decades, might be key in solving this issue in conjunction with renewable energy sources.
The growing interest in nuclear energy signals a clear shift in the energy sector.
For instance, Microsoft is exploring a deal to reopen Unit 1 at the Three Mile Island nuclear power plant at a price of around $100 per megawatt-hour for its electricity. While this price is higher than the levelized costs of solar and wind, it underscores the growing value of stable, year-round power.
This follows a trend among tech giants entering the nuclear energy space, driven by the desire for stable, emission-free power year-round.
A bigger role than previously anticipated
In a recent study of the European Power system to 2050, researchers from the Norwegian University of Science and Technology (NTNU) found that even costly nuclear energy can lead to a more affordable energy system overall. Most importantly, nuclear energy can reduce the need for costly power grid expansions and energy storage.
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