Which alternative is the cheapest depends on how costs are calculated. There are many things that should be factored into a comparison of the cost of alternatives such as nuclear reactors, conventional power plants, windfarms, water turbine and solar power solutions. Costwise, we can think of the following:
1. Building the facility (including installation, construction, land acquisition, commissioning, etc).
2. Maintaining the facility, lifespand of the plant, fixing it in case of damage, rebuilding or updating it, decommissioning and dismantling old parts, etc.
3. Staff required to operate and maintain the facility, etc.
4. Some cost is now carried by government, but that doesn't mean it comes for free. Cost should be calculated and incorporated in each alternative to work out their total cost. We can think of costs like:
- Fuelling the facility with coal, petrol, nuclear rods, or whatever is required to make it run. This includes the cost of shipping coal, building ports, etc. In the case of uranium there is the acquisition cost as well as the need to political lobbying to ensure ongoping supply;
- Educational cost. In the case of uranium, specialized staff is required to enrich it at the plant. There's also an ongoing need for impact assessment, planning, dealing with emergencies, etc, all of which calls for the availability of specilized studies at universities;
- Distributing the power, typically through the electrical grid;
- Environmental costs include waste management, including cooling of facilities, measures needed to deal with operational pollution and rehabilitating of the site after dismantling. In the case of nuclear power plants it's hard to clean a site from radioactivity; and
- Security, which is increasingly recognized as important and costly, requiring ongoing vigilance, patrols and monitoring, etc. This also includes the cost of patrolling ships carrying oil, dealing with waste, such as how to safely store nuclear waste without terrorists getting their hands on it to make weapons, etc.
Typically, studies that make cost comparisons do not include the cost of all these items. To get a picture of the full cost, we'll have to work out the cost of, say, maintenance of the electrical grid. If every house or office could put enough solar panels on their roofs for their own electrical power requirements, then we wouldn't need no electrical grid at all. Calculating in the savings in such areas could make a huge difference for alternatives such as solar power.
Finally, we need not only comapre prices for today, but we need to predict price estimates for the future. To do so, we need to take into account technological trends, specifically the rapid price falls and efficiency gains in solar panels, batteries, computers and TV-sets. The latter two need ever less power, due to more efficient chips, use of LCD-screens instead of CRT-screens. Such trends make solar panels ever more attractive.
Sam