Nuclear scheme would cost Australian households more for decades, new analysis finds
All Australian homes could be equipped with solar and batteries three times over for the cost of nuclear, new analysis has found.
The average Australian household energy bill would also be more than eight times higher if homes were connected to nuclear instead of being powered by solar and batteries.
The comparative analysis by Energy & Resource Insights (ERI), commissioned by Renew Australia for All, has found that households powered by solar and batteries pay an average of just $328 per year on electricity bills. In contrast, under the Coalition’s proposed nuclear scheme, the average household would have an annual bill of $2,721.
The capital cost of nuclear reactors alone is so high that every household in Australia currently without solar and batteries could be fully equipped with the bill busting system three times over.
That is before factoring in nuclear’s ongoing fuel costs, maintenance, transmission, distribution, and the creation of a substantial new bureaucracy required to regulate a new nuclear energy industry in Australia.
Renew Australia for All – an alliance of more than 70 social services, community groups, environmental organisations, faith groups and unions – is urging all sides of politics to support solutions that deliver immediate relief on electricity bills.
Australian households would be $2393 worse off each year if their homes were powered by nuclear rather than solar and batteries.
Additionally, the analysis warns that the benefits households receive from having solar and batteries would be eroded if this technology was coupled with nuclear. This is because home systems would be more likely to be shut down to accommodate the large, inflexible nuclear generators.
Solar Citizens CEO Heidi Lee Douglas said:
“Four million Australian households are already slashing their power bills with home solar. Let’s focus on getting those 7 million homes who aren’t connected to solar, powered with solutions that actually cut energy bills, not drive them up.
“Solar and nuclear don’t mix. Taking the nuclear path will slow down the uptake of rooftop solar and home batteries, and actually result in many home solar systems being switched off at the inverter. For the cost of building nuclear reactors, every home could have solar and batteries, many times over.
“This analysis is clear. Solar saves, nuclear costs.”
Queensland Conservation Council Senior Campaigner, Stephanie Gray said:
“Queenslanders are world leaders in the uptake of rooftop solar because it’s a no-brainer to generate your own cheap and clean energy straight from your rooftop.
“Coupling solar with household battery storage means we can store more of our cheap abundant sunshine and use it at night to deliver cheaper bills for everyone.
“More battery storage is a win-win-win: it will reduce household emissions, improve energy reliability, and bring down power bills.
“Australia is already running on 40 per cent renewable energy. Wasting time on a nuclear fantasy is a ploy to keep Australians chained to expensive and polluting coal and gas power for longer.”
Joy Toose, climate campaign manager for Environment Victoria:
“Nuclear will only ever deliver a fraction of our electricity needs and couldn’t possibly be built before 2045.”
“Renewable energy is here and ready to go – we can have efficient electric homes powered by renewables for all Australians.”
“There’s no need to risk this costly nuclear distraction imposing Dutton’s nuclear agenda on Gippsland and Australia”
Jacqui Mumford, CEO of Nature Conservation Council of NSW:
“One in four NSW households already know solar is the cheapest form of electricity, because it’s on their roof.
“For a fraction of the cost of Dutton’s nuclear scheme, this success story can be expanded to every home, and backed up by batteries too.
“Solar and batteries are the fastest way to bring down electricity costs for all Australians, and do our bit for the environment. Let’s get on with it.”
-ends=