Why is the current expansion of nuclear reactor construction fabulous news for Renewable Geothermal Energy and our investors?
Simple, it is because large-scale Geothermal electricity production outperforms Nuclear on every single economic metric.
The cost of construction for a Geothermal Plant is 3.75M€/MWe, versus 10.3M€/MWe for Nuclear. Almost one third of the cost.
The cost of production for Geothermal electricity is 0.015€/KWh and 0.06€/KWh for Nuclear. If the European market is priced predominantly for nuclear, then the profit margin for Geothermal will be simply astounding.
Note that this does not take into account the side-revenue streams for Geothermal from metal-brine-extraction, Green Hydrogen production, CCS-pumping and District Heating.
The lead-time for a new nuclear powerplant is between 23 and 35 years. A geothermal plant has a lead-time between 8-10 years.
I am often asked why one should invest in new technology. The simple answer here is that nuclear powerplants are the new kid on the block. The first commercial plant (Windscale) was brought online in 1956. The first commercial Geothermal plant was brought online in 1904 in Larderello, Italy, and it is still operational.
This is something to ponder during the weekend if you are about to invest into energy.