The Japanese government estimates that in order to completely end the country’s use of nuclear power by the year 2030, it would take an investment of 50 trillion yen (approx. $637.4 billion) in renewable energies. Softbank CEO Masayoshi Son is also a renewable energy supporter. According to his foundation, the Japan Renewable Energy Foundation, the option of choosing nuclear power as 15% or 20-25% of the total energy mix by 2030 will mean a marginally higher electricity costs than phasing it out completely.
Apparently his foundation’s calculations have taken into consideration a number of factors using the government’s proposal of three energy scenarios for 2030, which they may have overlooked. While considering some percentage of nuclear power in the mix, the government is not considering the insurance costs of the aftermath of an accident. Costs like running a nuclear power plant for the past 40 years, decommissioning costs and nuclear waste have to be factored in.
According to Son and his organization, the cost of generating electricity under the 0% option is expected to be ¥13.2 per kwh. If the 15% option is chosen then the cost is estimated between ¥12.6 and ¥13.4, and the 20 to 25 % scenario will mean a cost of ¥12.6 to ¥13.9. Nevertheless, whichever option the government picks, it simply means that renewable energy will bear the major burden of supplying electricity to Japan. Son calls for a unified actuion where both wind and solar energy are explored to the max and served to the citizen in an efficient and cost-effected manner.
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