Sydney’s HB11 says that, despite the CSIRO recently dismissing nuclear energy as too expensive, its fusion reactor could one day be the cheapest power on the market.
Australia’s only nuclear fusion start-up says the technology could still be a vital part of Australia’s long-term energy solution, despite nuclear power being dismissed as too expensive by the CSIRO and the Australian Energy Market Operator last week.
looking at which technologies could replace fossil fuels by 2050, the CSIRO and AEMO found nuclear energy wasn’t viable because it was already much more expensive per watt of capacity than renewables such as solar and wind, and its price of $16,000 per kilowatt-hour wasn’t going to get much cheaper over the coming 28 years.
The report focused on nuclear fission, which creates energy by splitting atoms such as uranium, and did not analyse nuclear fusion, the process used by the sun, where energy is created by forcing smaller atoms to combine into one larger atom., giving off heat and electricity as well as helium atoms that could help make up for the shortfall of helium production when it’s no longer being produced as a fossil-fuel byproduct, HB11 officials said.
But price-per-watt is only part of the equation, said Dr Adrian Paterson, the former boss of Australia’s Nuclear Science and Technology Organisation , who’s now a non-executive director of HB11.
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