But that doesn't inform us on what the optimal policy decision is in the current year of 2025 given 2025 prices and time-to-build of the various options.
In Australia renewables have the perfect confluence of multiple factors:
- low seasonable variability of insolation in the north
- high wind speeds in the south
- land availability for solar
- high statistical diversification of renewables due to size
- higher than normal costs of nuclear due to first-of-a-kind costs dominating the total build-out costs due to the small energy needs of the country, and higher labor costs
The CSIRO studied this for Australia and released a report about it. Even when you factor in storage and transmission costs, renewables are significantly cheaper than nuclear.