| Nuclear's cost is almost entirely in the infrastructure, and it's paid over a very long time period. The business plan for nuclear is to spend a decade or two paying back your loans, after which you make big $$$ because the plant costs relatively little to run. The ideal plan for nuclear is to pump out power at 100% 24/7. You save nothing by being idle, and you want to pay off your loan as soon as possible. All that goes to hell once cheap renewables show up, because the moment wind or solar can sell power cheaper, a rational person would buy it from renewables. Which means that if the sun is shining, you're either not selling at all, or selling much less or cheaper than you'd like to. And so your loans now get repaid much later. At some point a bank looks at that and figures that the proposition of maybe making a profit 30 years in the future isn't that great of a deal. That's a long time, for all the bank knows, solar might be dirt cheap by then and kill nuclear for good before it gets to making a profit. Probably better to put billions to some safer use. Politically it's not a lot better -- nuclear costs $$$, and takes a long time to build, which means that if you're the one who got the country into nuclear on a large scale you can't really expect to see a benefit within your term. Worst case it goes wrong and is an expensive boondoggle, which doesn't bode well for reelection. Nuclear may make sense if you think "emissions are paramount, screw money". But there's not a lot of people who'd be willing or even able to risk billions in such a manner. |
Solar and wind are both intermittent. Wind is dependent on the weather and experiences situations with near zero production for long stretches of time. Solar is also weather dependent, and has day-night cycles on top of it.
This is fine if you're not actually looking to decarbonize a grid, just trying to opportunistically shave off carbon emissions here and there in a primarily fossil fuel grid. But if you're actually trying to eliminate fossil fuel use this is not a good approach. Theoretically we could store excess energy, but no scalable storage solution exists at the moment. That leaves nuclear power plants to serve as a dispatchable source. But as you pointed out, nuclear plants are just as cheap to run 24/7 as it does to run intermittently. So why not just build the nuclear plants and skip the renewables?