Nuclear Seen as Cheapest Energy Source for Japan, Ministry Says

Fukushima $137 Billion Cost Estimate Has Tepco Seeking More Aid
Pedestrians walk past the Tokyo Electric Power Co. (Tepco) headquarters, center, in Tokyo, Japan. Photographer: Kiyoshi Ota/Bloomberg

Nuclear power generation in Japan will cost 10.3 yen per kilowatt hour or more by 2030, the cheapest among various power sources, according to a government report.

Offshore wind is estimated to be the most expensive among clean energy sources, costing 30.3 yen to 34.7 yen by 2030. That compares with 13.6 yen to 21.5 yen for onshore wind, the Ministry of Economy, Trade and Industry said in a report compiling estimates on power generation costs for 2030.

Large-scale solar will cost 12.7 yen to 15.6 yen, while residential solar will cost 12.5 yen to 16.4 yen, according to the ministry.

The report was presented to a ministry task force Monday after adjustments were made since a meeting last month amid a nationwide debate on energy use and climate change.

The trade ministry also gave estimates on geothermal and coal power at 16.8 yen and 12.9 yen, respectively. Liquefied natural gas power will cost 13.4 yen.

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