The strike price for nuclear announced today by the Government will be set at £92.50/MWh for 35 years. The Solar Trade Association (STA) calculates that this is set to be beaten by solar power even before the additional costs of nuclear waste management are considered. The UK anticipates nuclear going live in the 2020s – assuming it doesn’t suffer the same delays and cost increases as other reactors across Europe – by which time solar power will be cheaper.
Whereas nuclear is set to receive £92.50 for 35 years, which ‘could be subject to adjustments downwards or upwards in relation to operational and certain other costs’, the STA anticipates solar is set to require around £86/MWh for 15 years in the year 2019/20 (based on 2012 prices). If, like nuclear, the support for solar was spread over 35 years instead of 15, then the strike price would be even lower.
Seb Berry Head of Public Affairs at Solarcentury said, “The nuclear strike price deal announced today needs to be seen in the context of the falling costs of large-scale PV and other renewables. By the 2020s when Hinkley Point C will start generating, solar PV will certainly be beating nuclear on the headline strike price figure alone, never mind all of the other government nuclear sweeteners.”
For more information on: Solarcentury