1. Nuclear has a negative learning curve. It’s gotten more expensive with time. Part of the reason is increasing geopolitical risks (the U.S. just launched a war on Iran because of the possibility it may upgrade nuclear material to weapon capabilities), lost knowledge and expertise, and also the increasing relative cost of financing in the cost of energy projects.

2. Nuclear was built at a time when governments were much more likely to directly invest in energy projects. It didn’t have to compete with Labubus for private dollars.

3. Its current competition didn’t exist, given how much cheaper solar and wind have gotten, and how much cheaper battery tech has gotten with signs all of them will only get even cheaper. And on the non renewable side, natural gas has become incredibly cheaper as well.