Nuclear dream is fading as wind and solar soar

Governments are still spending billions on nuclear research, but it looks like being an unhappy new year for the industry as it continues to shrink while renewables grow.

With nuclear power falling ever further behind renewables as a global energy source, and as the price of oil and gas falls, the future of the industry in 2015 and beyond looks bleak.

Renewables now supply 22 per cent of global electricity and nuclear only 11 per cent − a share that is gradually falling as old plants close and fewer new ones are commissioned.

New large-scale installations of wind and solar power arrays continue to surge across the world. Countries without full grids and power outages, such as India, increasingly find that wind and solar are quick and easy ways to bring electricity to people who have previously had no supply.

Developed countries, meanwhile, faced with reducing carbon dioxide emissions, find that the cost of both these renewable technologies is coming down substantially. Subsidies for wind and solar are being reduced and, in some cases, will disappear altogether in the next 10 years.

Read more here: http://www.eco-business.com/news/nuclear-dream-fading-wind-and-solar-soar/