TUESDAY 29 MARCH, 2011 |
Nuclear Power Investment To Shift To Renewables .. And Coal
The fallout from the nuclear crisis in Fukushima Japan is more than just
radioactive - it's effects are extending into politics and future nuclear
While Japan struggles with the tsunami disaster and nuclear reactor crisis that
occurred in mid-March, the toll on the nuclear industry has extended far beyond
the nation's borders.
In the German state of Baden-Wuerttemberg, the conservative party has had its 58
year reign ended as a direct result of Japan's nuclear crisis, with a Green lead
alliance winning a majority.
While a solar power stronghold, Germany also has a substantial
heavily subsidised nuclear industry
; one that not only costs taxpayers
billions, but causes many citizens of the country other concerns. The level of
disquiet was demonstrated by a 250,000 strong turnout on the weekend protesting
against nuclear power.
The crisis will have an impact on future investment in nuclear power around the
world too - but it will be a double edged sword.
According to a forecast from U.S. market research company McIlvaine
as a direct result of the incident in Japan, $200 billion in investment will be
shifted from nuclear energy to other areas in the next five years. Wind
investment will rise by $40 billion and solar
by $20 billion.
However, investment in coal-fired boilers will rise by $100 billion and longer term, the biggest shift will be from nuclear to coal.
McIlvaine says China is both a major coal producer and the largest potential investor in nuclear power plants. India will also be influenced to put more emphasis on
coal, even given its National
McIlvaine doesn't foresee a huge shift to gas-fired power as
since the price of oil is expected to increase, gas will follow suit due to the
demand for gas-to-liquid products and be too expensive as primary fuel
for electricity generation.
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