Secretary of State John Kerry spoke at MIT on Monday about the threat of climate change, and among usual fine things, he said this:
And Kerry said he's changed his mind about nuclear power, which he once opposed.
"Given this challenge we face today, and given the progress of fourth generation nuclear: go for it," he said. "No other alternative, zero emissions."
Kerry now joins a growing list of anti- turned pro-nuclear advocates, including Dr. James E. Hansen, George Monbiot, Mark Lynas, Stewart Brand, Barry Brook, and the recently departed David MacKay.
Here’s the reason: renewables are cheap, and they build fast, which is great. In many places, the price of RE is approaching (or even lower than) coal.
But wind turbines have short operating lifetimes, and the lifetimes of solar panels is still rather uncertain. Further, as the penetration of renewables into the market increases, the cost of renewables rises due to self-competition driving down revenues for renewable owners. That’s the issue right now with Germany’s energy transition (Energiewende), where the retail price of electricity is climbing, even as the wholesale price falls: RE producers are guaranteed a price by the government, and government must step in to make up the difference as overproduction during windy hours drives the wholesale price close to zero. And that revenue shortfall is made up by ratepayers.