Is the cost of switching to all-electric profitable?

How much will electricity cost if we all plug in our cars?

Less than today, because the costs of renewable energies continue to drop dramatically from year to year. The industry is well aware of market projections for electric cars and other EVs, as well as heat pumps, induction cookers and all the other electrically powered equipment we are adopting.

Utility planners build or contract new capacity based on these multi-year projections. Contracts with new operators of solar and wind farms are generally drawn up for a period of 30 years.

How many nuclear and coal-fired power plants will need to be built to meet this need?

Almost none. The existing coal-fired power stations are all disappearing.

Coal is rapidly disappearing because renewables can be built and commissioned at a lower cost than coal at an existing plant.

We will continue to use existing nuclear power plants, which have modest operating costs, either until the end of their expected lifetime or until we reach 100% renewable energy, including new capabilities for recharging EVs.

Soon we won’t be building any more, because nuclear reactors cost too much, especially with the foreseeable cost overruns, and take far too long to build to be of any use in the climate crisis.
Thorium molten salt reactors are of great theoretical interest, if various technical obstacles can be overcome.

In this case, they could be of practical interest. They could contribute to the disposal of unwanted nuclear material. There is no chance that they will be commercially available before the end of the transition to renewable energy.

Electricity production

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