2. Cost The levelized cost of energy (LCOE) for a new nuclear plant in 2018, based on Lazard, is $151 (112 to 189)/MWh. This compares with $43 (29 to 56)/MWh for onshore wind and $41 (36 to 46)/MWh for utility-scale solar PV from the same source.

This nuclear LCOE is an underestimate for several reasons. First, Lazard assumes a construction time for nuclear of 5.75 years. However, the Vogtle 3 and 4 reactors, though will take at least 8.5 to 9 years to finish construction. This additional delay alone results in an estimated LCOE for nuclear of about $172 (128 to 215)/MWh, or a cost 2.3 to 7.4 times that of an onshore wind farm (or utility PV farm).

Next, the LCOE does not include the cost of the major nuclear meltdowns in history. For example, the estimated cost to clean up the damage from three Fukushima Dai-ichi nuclear reactor core meltdowns was $460 to $640 billion. This is $1.2 billion, or 10 to 18.5 percent of the capital cost, of every nuclear reactor worldwide.

In addition, the LCOE does not include the cost of storing nuclear waste for hundreds of thousands of years. In the U.S. alone, about $500 million is spent yearly to safeguard nuclear waste from about 100 civilian nuclear energy plants. This amount will only increase as waste continues to accumulate. After the plants retire, the spending must continue for hundreds of thousands of years with no revenue stream from electricity sales to pay for the storage.