I've seen quite a few SMR proposals over the last couple of years and not a single one that dared to address the whole cycle from deployment to eventual decommission as a function of the total revenues - costs to operate. Most of these projects seem to be made to bilk investors or governments rather than to actually produce power. The day Italy produces the first KWh that is net profitable to the operators without counting subsidies I will be highly amazed, and that's assuming they get to operational in the first place.
I agree, I tell everyone who will listen that no country, not Russia, China, Japan, France, USA etc has ever made nuclear power profitable. And you can't blame it on the environmentalists in China and Russia.
That being said, many countries consider it a national security issue not to be held hostage to foreign oil.
Why the myopic focus on profitability? Only one nation has succeeded in making healthcare profitable, please tell us how that has led to the best outcome for society?
Because for healthcare profit isn't a motive to begin with (or at least, it shouldn't be) and there aren't many different alternative sources for it either.
China, Russia and the USA all have massive and vested interests in fossil fuels. In the US for example we’ve been subsidizing the everloving hell out of fossil, eroding regulations that would hold them accountable for externalities…
…and then people wonder why nuclear isn’t competitive. When you hold one thing under a microscope because “radiation” scares people, we end up with millions dead per year from air and water pollution due to fossil fuels.
China has some coal reserves but overall they're a major net fossil fuel importer. They're quite short of crude oil and natural gas reserves relative to demand. This is a serious national security risk which is why they've been rapidly electrifying their economy and building solar, nuclear, and hydro power plants (along with coal fired power plants).
People who know how much effort it takes to constantly measure and contain radioactivity and what a mess it is to mine for Uranium in the first place also don't wonder.
China also? How is that? China is a big importer of oil, and is heavily burning coal (more than 50% their energy mix), that is also partly imported. They are fighting for a cleaner energy not because they are green but because they don't want to be dependent on imports, and some people even accuse them of undercutting solar panel pricing to get all the world market.
They are installing nuclear power like no other country (1 GW yearly since 2014), and Wikipedia says that 50% of all nuclear capacity being built is in China (https://en.wikipedia.org/wiki/Nuclear_power_by_country): 37 new reactors, followed by India with 6 and Russia, Egypt and Korea with 4. USA and France, which are both pro-nuclear or nuclear neutral, are building 0 reactors. But yeah, China has interests against nuclear power.
You are not helping your case by spreading misinformation and calling other people misinformed by making a strawman ("radiation scares people"). I am against nuclear (or rather not pro-nuclear) because it is not economically sound, because it is massively subsidized by Governments for the private sector to profit.
If china that is the number one producer of solar panels and batteries is investing in nuclear perhaps that shows that indeed it's not such a bad bet? Specially taking into account the military applications of such capabilities.
It would also seem that investing into it may perhaps render significant gains into the future as R&D becomes more involved with actual running systems and funded (skin in the game?)
It seems the only ones who lost by abandoning their nuclear programs were European countries (specially Germany) in detriment of Russia and other Oil trading countries... It's even probable that much of the "bad press" nuclear has had for the past decades was in fact instigated by oil-producing countries doesn't it?
Most electricity and infrastructure is profitable. But not after carving it out in a way that looks at it in complete isolation. Just like train infrastructure creates a lot of business around the area of the train infrastructure, even if the train itself may seem not self sustained.
Sure, but then that's not "profitable" in the direct sense of "makes rich oligarchs richer".
I'm all for improving the quality of life for society. In the end the goal is to live well, not to destroy our living conditions for a few oligarchs to make more money. But "profitability" is not generally optimised like this, unfortunately.
I'm fairly sure that the total economic value that we get out of roads far exceeds the cost it takes to create and maintain them, yes. A similar argument can probably be made for justice systems and armies.
If a power generation system costs more to operate than the value of power we get out of it, it's probably not very useful. I think that's what we're talking about here.
Those things you pay for indirectly via taxes. Electricity you pay for directly. you can build unprofitable economically uncompetitive power, like nukes, and your rates will go up. People tend not to like that, but you can do it.
So the alternative is relying on solar panels made by a quasi-hostile country, because for some reason we can't produce them economically ourselves, or continuing to burn fossil fuels?
In most sunny places a decentralized per-home solar policy is cheap, sustainable, and more robust to severe local weather events.
While fission reactors are still the cheaper initial energy choice (like a future cancer patients love of cheap cigarettes.) Small Modular reactors are a fools errand for most places, as they have all the same security, labor, and maintenance issues of full sized installations. Thus, instead of repairing one of four turbines every few years, the contaminated components must now be reprocessed or safely hidden away on mass.
Maybe fine for submarines or aircraft carriers, but for massive infrastructure it is trivial to prove it causes major long-term problems.
Anyone that has ever purchased a property with an old leaky heating-oil tank nasty surprise site-reclamation cost... will understand the initial unit price never covers the actual clean up cost. =3
Given the outcome of Flamanville 3 and the that the proposed subsidies for the EPR2 fleet are ruinously expensive France is unable to build competitive new nuclear.
>Rather than reviving the large reactors of the past, the government is focusing on small modular reactors, or SMRs, and other advanced technologies that supporters say could be safer, more flexible and quicker to build.
>The legislation does not authorize the construction of any reactors. Instead, it creates the regulatory foundation needed before future projects can be proposed, assessed and approved.
Giant step for SMRs. I'm hopefull for greater NATO collaboration regarding energy security if SMRs prove commercially viable.
I don't understand why people are so bullish about SMRs. 25 years ago we were trying to increase reactor size and testing breeders, no we want smaller reactors, for what reason?
I always thought it was about commoditization: sure a SMR might cost 10x more per watt in theory but if you can reliably roll them off the production line without having to redesign each iteration and without the cost overrunning by 10x, it pays for itself.
Still doesn't make sense. We could have standardized the old reactors too.
Radioactive material and a bit of water.. there's no reason to design those things a hundred times. France actually did that.
France is still shutting down its plants because the rivers are too warm in the summer. As for floating SMBs in the harbour, I don't think climate change will be kind to this idea.
We were still learning about flaws and failure modes of nuclear reactors. Designs kept evolving to try to address these. We never got to the passenger airliner model where we had systematically eliminated nearly every failure mode and could produce this on an assembly line.
You can’t standardize manufacturing of multi billion dollar facilities. Economies of scale just don’t work that way. Even residential housing has the same problem. There’s too much variation in on-site construction.
Single family homes are very much standardized. You get doors in one of 6 widths (IIRC), and they are all the same height (closet doors are a different height, but otherwise standard). You get windows in a few dozen sizes. You get your wall studs in one of two lengths. And so on.
There is a lot of variation of layout possible within the constraints of the standard. However the vast majority of the hard work is done in a factory to standard sizes, and the onsite work is just final assembly to easy to change specs, so there would be no advantage to a standard.
New suburb housing developments in North America typically use a handful of floorplans that are customized very slightly across many homes specifically so they don’t need hundreds of unique designs
At least these installations don't need to deal with radioactive material directly, so they will have the same financial infact as similar improvements to, say, coal-fired power plants.
They don't materially affect the cost of a nuclear power plant. Cooling towers or evaporating ponds are not expensive. Coal and gas power plants also use them.
You just can't easily retrofit them onto an _existing_ power plant.
It will reliably cost only 10x, and it theory it will roll of a production line.
The AP1000 reactors at Vogtle were explicitly marked for the modular construction as a key selling feature, which would reduce time and cost. It came out 20B over budget and 7 years late.
It's a great story: in theory you can produce modular components of a full scale nuclear power plant in a controlled environment. In theory.
In practice the production line wasn't as controlled as it needed to be and ended up delivering modules that needed significant rework. That caused modules to be delivered and ready out of order. In other words they bought a lot of project management complexity that was hidden behind the theory of modularity.
SMRs are turning out to be even more expensive than conventional nuclear power plants, which are so expensive compared to renewables that even without a risk premium they are uncompetitive.
Vogtle, Hinkley Point C- are all one off constructions and have very expensive regulatory compliance requirements
AP1000 (reactor as Vogtle 3/4) in Taishan is estimated to cost $4M-6M /MW compared to $15M/MW+ at Vogtle. if Chinese safety standards seem lax, South Korea does regularly reactors at $4-6M/MW range.
Even Flameville 3 in France was significantly cheaper than Hinkley point C (same reactor type), which infamously required some quite ineffective Fish speakers. The EPR2 series (6 reactors) in France is expected to cost considerably less than Flameville did.
Key to cheap nuclear - SMR or otherwise is regular construction. SMR makes regular construction more likely as each plant is not a $10-20B+ capex that is a tough sell to tax payers particularly when it inevitably overruns, SMR also potentially have a bit less regulatory hoops to jump through due to their smaller size.
Are we prepared to play kingmaker and pick one SMR design to standardize on so that those can ride their theoretical learning curve (assuming we get enough buyers)? Because politically that doesn't seem likely, and I think we'll end up with the units that do get contracted to be spread across multiple firms, none of which make it out of the expensive first few units.
> Even Flameville 3 in France was significantly cheaper than Hinkley point C
Per wikipedia: initial cost estimate €3.3 billion, cost in 2020 (6 years before it was done) €19.1 billion, so 5.8x the budget. Supposed to enter operation in 2012, entered in 2026 "only" 14 years late.
These are terrible results.
That EPR2 series are "expected" to cost less says absolutely nothing. Flameville 3 was expected to cost 83% less too, and I except that if they swindle people for the money to build it we'll see it'll be just as much of an overrun.
The nuclear industry seem absolutely incapable of sticking to a timeline or budget. And any one of these failures should have been disqualifying. But they get to do it over and over again.
That is why even Flameville 3 was cheaper than Hinkley point C, not that it was cheap.
Flameville 3 is the first reactor for France in 21st century and suffers the frequency problem I am arguing. It was a path finder therefore only one was ever ordered. EPR2 is 6 under construction and France does have a track record of doing it consistently at scale for cheap(by nuclear standards).
The Asian giants all do it for cheaper because they build regularly, Japan (post Fukushima policy direction notwithstanding) and South Korea achieve overnight numbers of $5-6M/MW or less, so does China.
Regular construction is key, to the industry having a chance, without SMR that is never realistic anymore.
There is no economic case for SMR that you couldn't make for a larger one with a massive benefit of economies of scale. SMRs are - in my opinion - a dead end, larger reactors could work well but will be delivered later and likely will still not be profitable on a KWh basis when compared to an equivalent installed base of solar and wind and will most likely be deliver much, much later.
Wright’s law is the only way to reduce costs. It’s a generalization of Moore’s law. The more of anything you build the cheaper it gets. Most products get 10% - 20% cheaper every time total production volume doubles. The most obvious example right now is rockets - launch costs are going down exponentially because we (SpaceX mostly) are doing so much of it we are finally getting economies of scale. SMRs will too, but only if they become popular. It’s a little bit of chicken and egg, but the economics are clear. If lots of people start using SMRs they WILL get cheap. And it’s a form factor where it’s plausible lots of people will.
That's another interesting theory, but Wright's law doesn't mitigate many other disadvantages of SMRs: the need for multi site security; the need for on-site technicians at more sites; the need to build grid hook up to more locations, etc. There's a reason reactors grew to a certain size, no smaller and no bigger. Ignoring that lesson has a high price.
Large reactors require unobtanium-class material engineering. Only a few companies in the _world_ can make large reactor vessels.
In contrast, SMRs are being sold as something that you can weld together in your garage and use them as a replacement for your water heater. And you don't need all those large containment structures and gigawatt-scale turbines.
This makes it much easier to get funding, as you don't need to show that you have a firm agreement with all the suppliers.
I don't like this at all, but it _might_ result in us regaining some experience in building nuclear power plants.
The referendum that made nuclear energy illegal in Italy was held right after the accident of Chernobyl; people voted with their gut, not with their mind.
As someone who thinks nuclear is both less efficient and much more expensive than renewable energies - would you mind sharing a bit why this makes you happy?
Since all plants in Italy are closed since the 90s won’t it take decades and billions of tax euros to get them back operational again?
It’s not either or, you need both. We haven’t solved energy storage so renewables can’t be the only source of energy. If you look at Value-Adjusted Levelized Cost of Electricity (VALCOE) it changes the calculation quite a bit. We have negative energy prices a few times per year in Europe as it is.
We’ve solved both. The research has moved on from VALCOE to whole system modeling. Including transmission, storage, backup, firming and modeling it hour by hour.
Studies are converging on renewable energy systems being cheaper in climates ranging from Australia to the Nordics:
They are, but if the country has a law forbidding you from doing anything, things cannot move forward. If they'll not work, of course they won't be built. And large classic reactors are unlikely to be built either, even with this new law.
Gotcha - yea I think it’s a good idea to try out these things.
I just hope it doesn’t become a ideological fight to make something work at any cost to fit a certain narrative (same goes for renewables of course)
Whether it's more expensive or not depends on how you measure "cost", and including intermittency and storage costs for renewables seems to favor Nuclear in many cases[1][2]. Based on real-world examples of countries that traded one for the other, like Germany, renewables look quite bad economically. I know there's a lot of hand waving about how this has to do with how electric auctions work, but this seems like a convenient excuse.
I guess ultimately the nuclear vs renewables discussion is coloured a lot by feelings nowadays.
Resources like this help a lot to form a more nuanced understanding grounded in reality - but otoh I have to admit that a lot of this goes over my head - like even trying to understand how the economy works around this is mind boggling complex. I’ll need a deeper look to understand it better and build a more informed opinion tbh
It's cheaper if you stop caring about safety, right? In the USA it's now illegal for reactors to have adequate shielding - "as low as reasonably possible" is officially "woke"
It is sad that this has become a topic of the culture wars. Nothing good comes out of this, certainly not a rational weighing of the pros and cons of nuclear power.
I’m particularly interested in how they plan to finance reactors in a grid dominated by solar. I wouldn’t be surprised if they legally allow the building of new reactors but then fail to find investors. But perhaps they plan on using them as some sort of strategic assets and will just run them at a loss?
It is actually an enemy of nuclear, economically. Solar is so cheap, it will naturally grow until it satisfies 100% of the daytime load. This pushes nuclear off the grid during the day - it’s power costs too much. But nukes need to be running and selling at 100% 24/7 to have any chance of breaking even.
This is what the OP means - they make no economic sense on most modern grids.
> Wind and solar overtaking fossil fuels in 2025 can be largely attributed to a staggering rise in solar power. Solar grew by more than a fifth (+20.1%) for the fourth year running. It generated a record 13% of EU power in 2025, above both coal and hydro. This trend was widespread: all EU countries saw growth in solar generation compared to the year before, amid a huge expansion in EU solar installations. Solar provided more than a fifth of electricity in Hungary, Cyprus, Greece, Spain and the Netherlands. Renewables provided nearly half of EU power (48%) as unusual weather conditions caused hydro generation to fall by 12% and wind by 2%, but boosted solar generation. Wind remained the second largest EU electricity source at 17% of EU power, generating more than gas. Signs of a structural shift are clear across the EU, as wind and solar generated more electricity than all fossil sources in 14 of the 27 EU countries in 2025. Over the past five years, wind and solar have experienced massive growth (from 20% in 2020 to 30% in 2025). Fossil fuels have fallen from 37% to 29% in the same period, while hydro and nuclear remained stable or slightly declined.
> certainly not a rational weighing of the pros and cons of nuclear power.
Nuclear has no real cons other than time/cost of deployment, and it should be a no brainer for a place like Europe without significant energy resources. Once the power plant is built, it provides 50+ years of nearly free energy. It's that or buying gas from Russia.
> it should be a no brainer for a place like Europe without significant energy resources.
The uranium needs to be regularly replaced. Europe currently imports virtually all of the uranium used by its nuclear power plants. While Europe has some decommissioned uranium mines, they would have to be reopened, but the known deposits are estimated to cover less than the 50 years you cite, at current levels of nuclear production (much less when expanding production).
So if this is about energy independence rather than cost, I’m not sure that it would be such a great win.
Imported nuclear fuel is still a dependency, but not such a time-sensitive one as fossil fuel. Nuclear fuel rods get used for 1-2 years before they need to be replaced. This is much longer than it takes to burn a shipload of liquefied natural gas, though it's much shorter than it takes for solar panels or grid scale batteries to need replacement. Both nuclear energy and renewable energy are less sensitive to supply shocks than fossil energy, even if Europe doesn't reduce the percentage of its energy needs that depend on imports.
Australia and Canada are top producers of uranium ore, and uranium ore is a small fraction of total lifecycle costs. Given a ~2 year refuelling cycle and the possibility of stockpiling uranium, this is very far from an interruption to oil and gas flows - which you need a continuous supply of. Security isn't just a function of autarkic raw material supplies.
Cost of deployment is a massive consideration in our not-yet-post-scarcity society.
It takes billions to certify a nuclear power plant, and it takes billions more to re-certify it every few decades, to say nothing of the costs of modernization.
To be clear, I consider myself generally pro-nuclear power, but let's not ignore the massive upfront and ongoing capital and operational costs that really undermine this idea that it's free power.
> Nuclear has no real cons other than time/cost of deployment
... and cost of operation and the fact that you have radioactive material you need to securely and safely store for quite a bit (which no one has figured out yet)
> It is sad that this has become a topic of the culture wars. Nothing good comes out of this, certainly not a rational weighing of the pros and cons of nuclear power.
For at least the past decade, about all I've seen argued about nuclear is that it is not economical. I've been arguing that for around 15 years now.
We need to increase energy output by an order of magnitude in order to upgrade civilization to the next level. Does solar offer a pathway to doing that today, once you account for the costs of battery storage?
Nuclear, moreover, keeps us on the tech tree for space exploration. I don’t think solar is going to lead us to fusion or antimatter powered spaceships.
To produce 10x the current power demand with nuclear you’d need breeder reactors or perhaps thorium unless you want to run out of fuel rather quickly. That’s not what is being proposed here.
I also don’t believe that fission, fusion or antimatter are on the same branch of the tech tree.
Sir I'd like you to step out of the car and breathe into this Kool-Aid detector.
Planets aren't going to be colonized like colonies were on this Earth. Economic growth and prosperity have decoupled not only from fossil fuels, but it's no longer a function of energy consumption in general. Humans simply do not flourish without the Earth ecosystem. The future you paint here is only credible to 13 year-old boys who just finished their third Jerry Pournelle book.
> The future you paint here is only credible to 13 year-old boys who just finished their third Jerry Pournelle book.
My mom is in her mid 70s and grew up reading Jules Verne and H.G. Wells as a child in Bangladesh. She still imagines a Star Trek future is inevitable. If anything it’s Gen Z that has a small and narrow vision of what’s possible.
Total world energy usage is about 1/10,000 what the sun provides. Bumping that up an order of magnitude means 1/1,000 instead. Seems reasonable for solar.
I don’t see research into fission power doing anything useful for spacecraft. The big bottleneck right now is getting stuff to orbit. The rest is easy, relatively speaking. And getting stuff to orbit is not practical with nuclear unless you use something like Orion, which has some downsides to put it mildly, and is already doable with 1950s tech.
Nuclear power plants are uninsurable in the private market. There is no natural investor base for a product that is uninsurable. Unless you are an imagining a culture war where real capitalists are fighting corporate welfare queens, it's not a culture war issue.
Time and demographics are also a component. Italy is old, has worker shortages for living wage work (and is currently issuing ~500k work visas over three years to attract labor to the market), and a new nuclear generator takes at least ten years to build. Each year, an additional 1TW of solar will be deployed globally. Solar panel prices have fallen by around 20% every time global capacity doubled.
> 49% of Italy’s electricity was generated from low-carbon sources in 2025, below the EU average of 71%. As of 1 January 2026, Italy was aiming for 69% of renewable electricity generation by 2030. For the country’s latest renewables targets, see our 2030 Global Renewable Target Tracker.
Record 2026 summer heat impaired nuclear generation in France, Romania, Hungary, and Bulgaria, so I'd be curious how they intend to solve for that as the climate continues to warm (reduced capacity factor from reduced output due to cooling constraints impairs the economics).
Hopefully Germany will follow next. It’s absurd that they rely on fossil fuel and coal when they can build modern nuclear plants that can provide stable energy for the energy heavy industries.
It would take 5-10 years to build the power plants and maybe with Chinese aid even faster
I don't think that nuclear projects of any size could pass current environmental impact assessments.
Only a severe energy shortage could motivate politicians enough to temporarily skip these, like they did for the LNG terminals. But you can't build a nuclear power plant of any size within a single legislative period so its just not going to happen.
I am not debating the benefits of democracy, rather how there's no democracy at all if a referendum is not legally binding and a government can disregard the result.
It doesn't work that way in Italy. A popular referendum can only abolish an existing law, partially or fully. The general public cannot vote to adopt new legislation.
That being said, many countries consider it a national security issue not to be held hostage to foreign oil.
> That being said, many countries consider it a national security issue not to be held hostage to foreign oil.
Spot on. That, plus... peak oil.
https://www.youtube.com/@tfolsenuclear
When something is profitable in the sense that a few oligarchs make more an more money, I see it as a bug, not a feature.
…and then people wonder why nuclear isn’t competitive. When you hold one thing under a microscope because “radiation” scares people, we end up with millions dead per year from air and water pollution due to fossil fuels.
If not, reading a list of this helps:
https://en.wikipedia.org/wiki/Lists_of_nuclear_disasters_and...
But sure, oil leaks can be bad as well. Solar leaks on the other hand seem bearable.
They are installing nuclear power like no other country (1 GW yearly since 2014), and Wikipedia says that 50% of all nuclear capacity being built is in China (https://en.wikipedia.org/wiki/Nuclear_power_by_country): 37 new reactors, followed by India with 6 and Russia, Egypt and Korea with 4. USA and France, which are both pro-nuclear or nuclear neutral, are building 0 reactors. But yeah, China has interests against nuclear power.
You are not helping your case by spreading misinformation and calling other people misinformed by making a strawman ("radiation scares people"). I am against nuclear (or rather not pro-nuclear) because it is not economically sound, because it is massively subsidized by Governments for the private sector to profit.
It would also seem that investing into it may perhaps render significant gains into the future as R&D becomes more involved with actual running systems and funded (skin in the game?)
It seems the only ones who lost by abandoning their nuclear programs were European countries (specially Germany) in detriment of Russia and other Oil trading countries... It's even probable that much of the "bad press" nuclear has had for the past decades was in fact instigated by oil-producing countries doesn't it?
I'm all for improving the quality of life for society. In the end the goal is to live well, not to destroy our living conditions for a few oligarchs to make more money. But "profitability" is not generally optimised like this, unfortunately.
If a power generation system costs more to operate than the value of power we get out of it, it's probably not very useful. I think that's what we're talking about here.
There is more than money. There is stability (not depending on foreign oil, peak oil, etc), there is climate change, etc.
While fission reactors are still the cheaper initial energy choice (like a future cancer patients love of cheap cigarettes.) Small Modular reactors are a fools errand for most places, as they have all the same security, labor, and maintenance issues of full sized installations. Thus, instead of repairing one of four turbines every few years, the contaminated components must now be reprocessed or safely hidden away on mass.
Maybe fine for submarines or aircraft carriers, but for massive infrastructure it is trivial to prove it causes major long-term problems.
Anyone that has ever purchased a property with an old leaky heating-oil tank nasty surprise site-reclamation cost... will understand the initial unit price never covers the actual clean up cost. =3
https://www.neimagazine.com/news/us-japan-in-smr-deal/
Italy should be buying proven French technology instead.
Given the outcome of Flamanville 3 and the that the proposed subsidies for the EPR2 fleet are ruinously expensive France is unable to build competitive new nuclear.
>The legislation does not authorize the construction of any reactors. Instead, it creates the regulatory foundation needed before future projects can be proposed, assessed and approved.
Giant step for SMRs. I'm hopefull for greater NATO collaboration regarding energy security if SMRs prove commercially viable.
Radioactive material and a bit of water.. there's no reason to design those things a hundred times. France actually did that.
France is still shutting down its plants because the rivers are too warm in the summer. As for floating SMBs in the harbour, I don't think climate change will be kind to this idea.
There is a lot of variation of layout possible within the constraints of the standard. However the vast majority of the hard work is done in a factory to standard sizes, and the onsite work is just final assembly to easy to change specs, so there would be no advantage to a standard.
https://worksinprogress.co/issue/liberte-egalite-radioactivi...
There are minor variances locally, but you can make enough components common to benefit massively from economies of scale.
That's because French nuclear power plants are designed to be directly cooled by river water instead of using cooling towers.
The biggest nuclear power plant in the US (Palo Verde Generating Station in Arizona) is cooled by evaporating the treated wastewater, in the desert.
You just can't easily retrofit them onto an _existing_ power plant.
The AP1000 reactors at Vogtle were explicitly marked for the modular construction as a key selling feature, which would reduce time and cost. It came out 20B over budget and 7 years late.
In practice the production line wasn't as controlled as it needed to be and ended up delivering modules that needed significant rework. That caused modules to be delivered and ready out of order. In other words they bought a lot of project management complexity that was hidden behind the theory of modularity.
SMRs are turning out to be even more expensive than conventional nuclear power plants, which are so expensive compared to renewables that even without a risk premium they are uncompetitive.
AP1000 (reactor as Vogtle 3/4) in Taishan is estimated to cost $4M-6M /MW compared to $15M/MW+ at Vogtle. if Chinese safety standards seem lax, South Korea does regularly reactors at $4-6M/MW range.
Even Flameville 3 in France was significantly cheaper than Hinkley point C (same reactor type), which infamously required some quite ineffective Fish speakers. The EPR2 series (6 reactors) in France is expected to cost considerably less than Flameville did.
Key to cheap nuclear - SMR or otherwise is regular construction. SMR makes regular construction more likely as each plant is not a $10-20B+ capex that is a tough sell to tax payers particularly when it inevitably overruns, SMR also potentially have a bit less regulatory hoops to jump through due to their smaller size.
> Even Flameville 3 in France was significantly cheaper than Hinkley point C
Per wikipedia: initial cost estimate €3.3 billion, cost in 2020 (6 years before it was done) €19.1 billion, so 5.8x the budget. Supposed to enter operation in 2012, entered in 2026 "only" 14 years late.
These are terrible results.
That EPR2 series are "expected" to cost less says absolutely nothing. Flameville 3 was expected to cost 83% less too, and I except that if they swindle people for the money to build it we'll see it'll be just as much of an overrun.
The nuclear industry seem absolutely incapable of sticking to a timeline or budget. And any one of these failures should have been disqualifying. But they get to do it over and over again.
Flameville 3 is the first reactor for France in 21st century and suffers the frequency problem I am arguing. It was a path finder therefore only one was ever ordered. EPR2 is 6 under construction and France does have a track record of doing it consistently at scale for cheap(by nuclear standards).
The Asian giants all do it for cheaper because they build regularly, Japan (post Fukushima policy direction notwithstanding) and South Korea achieve overnight numbers of $5-6M/MW or less, so does China.
Regular construction is key, to the industry having a chance, without SMR that is never realistic anymore.
They are admitting Flamanville 3 like costs before they have even started building.
In contrast, SMRs are being sold as something that you can weld together in your garage and use them as a replacement for your water heater. And you don't need all those large containment structures and gigawatt-scale turbines.
This makes it much easier to get funding, as you don't need to show that you have a firm agreement with all the suppliers.
I don't like this at all, but it _might_ result in us regaining some experience in building nuclear power plants.
https://www.bbc.com/news/articles/ckgzevzwxwro
I couldn't find immediate investments from Kushner etc., but will dig further.
The referendum that made nuclear energy illegal in Italy was held right after the accident of Chernobyl; people voted with their gut, not with their mind.
Curiously enough, some Italian town signs still have a small sub-sign reading "denuclearized municipality" (example: https://live.staticflickr.com/1421/712461235_e46a2c7db5_z.jp... )
Since all plants in Italy are closed since the 90s won’t it take decades and billions of tax euros to get them back operational again?
Studies are converging on renewable energy systems being cheaper in climates ranging from Australia to the Nordics:
Some recent ones:
Finland, 2025: nuclear scenarios 71–84% higher system cost; unrestricted least-cost optimization builds zero new nuclear. https://www.sciencedirect.com/science/article/pii/S036054422...
Denmark, 2026: system-level LCOE including storage, flexibility and system integration; renewables substantially cheaper than nuclear. https://www.sciencedirect.com/science/article/pii/S036054422...
Australia, CSIRO + AEMO GenCost 2025–26: whole-system modelling including transmission, storage and firming; renewables + storage remain the lowest-cost net-zero pathway. https://www.csiro.au/en/research/technology-space/energy/Ele...
I mean anything could happen but seems like a long shot
[1] https://www.sciencedirect.com/science/article/abs/pii/S03605...
[2] https://en.wikipedia.org/wiki/Cost_of_electricity_by_source#...
I guess ultimately the nuclear vs renewables discussion is coloured a lot by feelings nowadays.
Resources like this help a lot to form a more nuanced understanding grounded in reality - but otoh I have to admit that a lot of this goes over my head - like even trying to understand how the economy works around this is mind boggling complex. I’ll need a deeper look to understand it better and build a more informed opinion tbh
I’m particularly interested in how they plan to finance reactors in a grid dominated by solar. I wouldn’t be surprised if they legally allow the building of new reactors but then fail to find investors. But perhaps they plan on using them as some sort of strategic assets and will just run them at a loss?
Solar is 15% - a lot but not yet dominated. Solar works at day and demand is also highest during the day so solar should not be an enemy of nuclear.
This is what the OP means - they make no economic sense on most modern grids.
France's EDF Warns Solar, Wind Surge Straining Nuclear Fleet Costs - https://news.ycombinator.com/item?id=47037839 - February 2026
https://web.archive.org/web/20260217122120/https://www.edf.f...
Related:
Wind and solar generated more power than fossil fuels in the EU for the first time in 2025 - https://ember-energy.org/latest-updates/wind-and-solar-gener... - January 22nd, 2026
> Wind and solar overtaking fossil fuels in 2025 can be largely attributed to a staggering rise in solar power. Solar grew by more than a fifth (+20.1%) for the fourth year running. It generated a record 13% of EU power in 2025, above both coal and hydro. This trend was widespread: all EU countries saw growth in solar generation compared to the year before, amid a huge expansion in EU solar installations. Solar provided more than a fifth of electricity in Hungary, Cyprus, Greece, Spain and the Netherlands. Renewables provided nearly half of EU power (48%) as unusual weather conditions caused hydro generation to fall by 12% and wind by 2%, but boosted solar generation. Wind remained the second largest EU electricity source at 17% of EU power, generating more than gas. Signs of a structural shift are clear across the EU, as wind and solar generated more electricity than all fossil sources in 14 of the 27 EU countries in 2025. Over the past five years, wind and solar have experienced massive growth (from 20% in 2020 to 30% in 2025). Fossil fuels have fallen from 37% to 29% in the same period, while hydro and nuclear remained stable or slightly declined.
https://ourworldindata.org/grapher/installed-solar-pv-capaci... (installed solar energy capacity goes brrr)
Nuclear has no real cons other than time/cost of deployment, and it should be a no brainer for a place like Europe without significant energy resources. Once the power plant is built, it provides 50+ years of nearly free energy. It's that or buying gas from Russia.
The uranium needs to be regularly replaced. Europe currently imports virtually all of the uranium used by its nuclear power plants. While Europe has some decommissioned uranium mines, they would have to be reopened, but the known deposits are estimated to cover less than the 50 years you cite, at current levels of nuclear production (much less when expanding production).
So if this is about energy independence rather than cost, I’m not sure that it would be such a great win.
But I just don’t get why it’s being discussed at all - its obviously so much more expensive and time consuming to build than the alternatives
It takes billions to certify a nuclear power plant, and it takes billions more to re-certify it every few decades, to say nothing of the costs of modernization.
To be clear, I consider myself generally pro-nuclear power, but let's not ignore the massive upfront and ongoing capital and operational costs that really undermine this idea that it's free power.
... and cost of operation and the fact that you have radioactive material you need to securely and safely store for quite a bit (which no one has figured out yet)
For at least the past decade, about all I've seen argued about nuclear is that it is not economical. I've been arguing that for around 15 years now.
Nuclear, moreover, keeps us on the tech tree for space exploration. I don’t think solar is going to lead us to fusion or antimatter powered spaceships.
I also don’t believe that fission, fusion or antimatter are on the same branch of the tech tree.
Planets aren't going to be colonized like colonies were on this Earth. Economic growth and prosperity have decoupled not only from fossil fuels, but it's no longer a function of energy consumption in general. Humans simply do not flourish without the Earth ecosystem. The future you paint here is only credible to 13 year-old boys who just finished their third Jerry Pournelle book.
My mom is in her mid 70s and grew up reading Jules Verne and H.G. Wells as a child in Bangladesh. She still imagines a Star Trek future is inevitable. If anything it’s Gen Z that has a small and narrow vision of what’s possible.
Why?
I don’t see research into fission power doing anything useful for spacecraft. The big bottleneck right now is getting stuff to orbit. The rest is easy, relatively speaking. And getting stuff to orbit is not practical with nuclear unless you use something like Orion, which has some downsides to put it mildly, and is already doable with 1950s tech.
Hand him the nerds and you'll hand him the future, for better or worse.
https://ember-energy.org/countries-and-regions/italy/
> 49% of Italy’s electricity was generated from low-carbon sources in 2025, below the EU average of 71%. As of 1 January 2026, Italy was aiming for 69% of renewable electricity generation by 2030. For the country’s latest renewables targets, see our 2030 Global Renewable Target Tracker.
https://app.electricitymaps.com/map/zone/IT/fifteen_minutes
Record 2026 summer heat impaired nuclear generation in France, Romania, Hungary, and Bulgaria, so I'd be curious how they intend to solve for that as the climate continues to warm (reduced capacity factor from reduced output due to cooling constraints impairs the economics).
France to Upgrade Heat Wave Modeling After Record Nuclear Curbs - https://news.ycombinator.com/item?id=49790006 - September 2026
Europe's Heatwaves Are Putting Nuclear Power Under Pressure - https://news.ycombinator.com/item?id=49466909 - August 2026
Bulgaria's Nuclear Plant Plans First Output Cut Due to Low Danube - https://news.ycombinator.com/item?id=49376860 - August 2026
Record heat is drying up Europe's major rivers, as these striking images show - https://news.ycombinator.com/item?id=49283344 - August 2026
Bloomberg: Hungary Casts Doubt on Nuclear Plant Expansion After Danube Low Levels - https://www.bloomberg.com/news/articles/2026-08-13/hungary-c... - August 13th, 2026
Italy to issue half million non-EU work visas over next three years - https://www.reuters.com/world/italy-issue-half-million-non-e... - June 30th, 2025
It would take 5-10 years to build the power plants and maybe with Chinese aid even faster
Only a severe energy shortage could motivate politicians enough to temporarily skip these, like they did for the LNG terminals. But you can't build a nuclear power plant of any size within a single legislative period so its just not going to happen.
Democracy is just lovely.
Have your citizens answer to a straightforward question on a topic twice, have them reject it, both times.
And the government will still go its way.
I'm not against nuclear per se, I'm just baffled at the "democratic" process.
I think the public opinion and sentiment has changed quite significantly since 2011 when the last referendum was held.
The current Italian government is massively populist so they wouldn’t do this if they thought people would disagree.
I don’t see any problem with the democratic process here - sure it’s a flawed system but I believe it’s still the best we came up with so far
It’s much less frequent than the usual democratic election cycle, where people are also allowed to reevaluate their positions.
But nobody asked, there hasn't been a third referendum.
A party can lose three election, and if they win the fourth, they still get into power.
https://youtu.be/sNhPplje7xM?is=h5VtnMe9wva-VKGM