Overview

• The CSIRO's updated GenCost report reaffirms that nuclear power would cost 1.5 to 2.5 times more than firmed renewable energy in Australia.
• Adjustments to the report, including longer assumed nuclear plant lifespans and higher capacity factors, did not significantly alter the cost comparison.
• Refurbishment costs for nuclear plants, which can reach billions of dollars after 40 years, offset much of the financial benefit of their extended lifespans.
• The report estimates that constructing Australia's first nuclear plant would take at least 15 years and cost up to $17 billion in today's dollars.
• Renewable energy, supported by batteries and transmission upgrades, remains the cheapest and most viable option for Australia's energy future, according to the CSIRO.