Large, expensive power plants are a barrier to clean energy development in jurisdictions like Minnesota, where wind, combined cycle natural gas, solar photovoltaics, and especially energy efficiency would have been cheaper than extending the life of a 40-year-old nuclear station—as far back as 2005.
That was before the cost of retrofitting Xcel Energy’s Monticello nuclear plant more than doubled, from an estimated $320 million to a final tab of $665 million, Renewable Energy World reports.
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Farrell cites the Pittsburgh Post-Gazette’s observation that “a new nuclear project may be the hardest large-scale construction venture to keep on schedule and on budget, because of the cost, the regulations, and the infrequency of such events.” He adds: “Compare that with solar power, with prices falling 50% in five years and new installations completed every 2.5 minutes.”
