Nuclear Energy

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Kenyatta University *

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1020

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Economics

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Nov 24, 2024

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NUCLEAR ENERGY PRODUCTION 1 NUCLEAR ENERGY PRODUCTION Submitted by Name of the Class Professor Name of the School City and State Date

NUCLEAR ENERGY PRODUCTION 2 Nuclear Energy Production Recent concerns pertaining to global warming have paved the way for the adaptation of new energy sources. Globally, governments have gradually embraced the use of renewable energy sources to curb the prevailing global warming crisis. The incorporation of nuclear energy stands out as one notable option that most jurisdictions have widely embraced. As an energy source, nuclear energy is generated via nuclear fission, which encompasses the splitting of a nucleus atom to generate energy. Plutonium and uranium are the main elements used in generating nuclear energy. Despite producing vast amounts of energy, nuclear energy is prone to a number of drawbacks that need to be promptly addressed. The incurred cost of nuclear energy production stands out as the significant drawback that stakeholders must address. The article has provided a precise analysis regarding current costs incurred during nuclear energy production across various parts of the globe. The provided article substantially contributes to issues aligned with renewable energy production. As revealed from the analysis, most nations have yet to find the perfect option for renewable energy sources. The critical quest in this discussion is centered on the underlying costs and risks involved in renewable sources of energy. By providing such substantial data, the article exposes the general public to multiple energy sources that can tap into the current global warming prices. In this case, much focus is centered on nuclear energy production, which stands out as an underutilized source of energy. Through the analysis, stakeholders are better positioned to weigh the prospective benefits of nuclear energy production against the possible risks and demerits. For instance, a precise breakdown of the likely costs that investors will incur while setting up a nuclear power plant has been provided, making it easy for stakeholders to understand the likely budget that has to be met to successfully achieve sufficient production.

NUCLEAR ENERGY PRODUCTION 3 The chart provides a superb breakdown of expected costs of setting up a nuclear energy power plant One outstanding aspect of the article is that the publication acknowledges the underlying benefits of nuclear energy. As revealed, nuclear energy produces substantive energy voltage in comparison to other renewable sources of energy. The article categorically affirms that nuclear energy voltage surpasses both energies produced by solar panels and wind turbines. Such analysis asserts that with the relevant resources, governments can flawlessly replace other renewable forms of energy with nuclear energy. The primary concern in actualizing such a goal lies in understanding the prevailing costs that will be incurred during the production. Gathering precise data regarding the incurred production costs can be hectic, as revealed in the analysis. Provided data denotes that stakeholders must factor in both the relative scale and price per unit of produced energy. With such analysis, it’s relatively easy to compare the varying differences in incurred costs of other renewable sources of energy such as wind, solar, wave, and tidal energy.

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NUCLEAR ENERGY PRODUCTION 4 The article has provided concrete evidence regarding how the media, activists, and politicians compare market prices for various energy sources. Conclusions from the data affirm that intermittent sources of energy, such as solar and wind, are relatively cheaper than nuclear energy. It’s thus evident that the possibility of fossil energy consumption in the future is limited, as most individuals will opt to stick to cheaper energy sources. However, the current risk in relying on intermittent energy sources is centered on the fact that most intermittent energy sources fail to reach their maximum potential. The analysis reveals that by failing to attain their maximum potential, individuals will be forced to rely on nuclear energy, which is quite harmful since it produces high amounts of carbon emissions that are hazardous to the environment. Typically, the analysis seeks to lure households to the advantages of relying on cheaper and less hazardous energy sources. Through the analysis, governments can flawlessly understand the most suitable energy source to maximize as all merits and demerits have been provided on the article. Subjecting citizens to energy options that demand more expenses will be unjust as the move will put unnecessary strain to the general public. The precise breakdown of nuclear energy costs acts as a significant strength of the article. Through the analysis, individuals are better positioned to comprehend the various factors making nuclear energy to be expensive. Data reveals that nuclear energy production requires stakeholders to invest in a large number of components, including but not limited to steel and concrete. Concrete and steel play a vital role in the construction of suppression erections and structural support, respectively. Similarly, concrete and steel are also required to establish a precise foundation for the nuclear plant, thus providing ample time for nuclear reactions. Such investments trigger unnecessary costs, which can be diverted to other energy production options, thus curbing the relatively high costs.

NUCLEAR ENERGY PRODUCTION 5 Nations investing in nuclear energy production should critically analyze the pros and cons of the investment. Gathering such facts will go a long way in curbing unforeseen expenses that will subject both users and the government to high taxes. For instance, it’s indisputable that for governments to fully set up nuclear power plants across their borders, additional funds will be required to support the initiative. This will force most nations to seek additional funds from neighboring nations at an interest. The incurred interests will eventually torment citizens as the government will be forced to increase taxes in order to repay the loans. Typically, the article strives to dig into the underlying risks that nations will face in the event they subject themselves to nuclear energy production. It’s thus wise for stakeholders to critically analyze the probable risks of such investments against the prospective benefits to the community. In the event that the underlying risks surpass the expected benefits, it’s advisable to seek alternative energy sources that will provide equivalent energy voltage. The incorporation of graphs and charts to compare electricity prices across the globe proves the validity of the analysis. The graphs have provided a chronological comparison of nuclear energy costs against renewable energy, thus making it easy to understand the differences in electricity prices across the globe. From the presented analysis, it’s apparent that electricity production in Germany is relatively more expensive than in other regions. For each unit of electricity consumed, residents in Germany are forced to part away with at least 30.88 cents as the nation’s tax levies range up to 53.6% (Nuclear For Net Zero, 2023). Empirical analysis reveals that the current high charges in Germany’s electricity result from the nation's reliance on one specific energy source. In comparison to other nations that maximize on both hydro and nuclear energy sources, Germany has remained glued to nuclear energy sources, which are relatively expensive. The inclusion of complex policies, subsidies, regulations, and price

NUCLEAR ENERGY PRODUCTION 6 guarantees has also proven to play a vital role in the increased electricity prices in Germany. It’s thus evident that there’s a need for the government to reconsider its policies in order to provide cheap electricity for Germany citizens.

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NUCLEAR ENERGY PRODUCTION 7 Despite the substantive data provided by the article, the research is prone to multiple biases and limitations, which makes it unreliable. The lack of a precise stated hypothesis at the beginning of the analysis stands out as one key drawback of the analysis. The failure to precisely address a specific hypothesis creates ambiguity regarding the key intensions of the article. An uninformed audience may find it difficult to depict whether the analysis seeks to analyze current electricity costs or nuclear energy production costs in particular. Such vagueness is deemed as inappropriate while conducting research. The deployed research methods also fail to provide a comprehensive analysis pertaining to nuclear energy production costs. For instance, the provided graphs fail to provide a specific analysis on nuclear energy production costs across the globe. Instead, the graphs illuminate electricity production costs across various regions. Such a move makes it difficult for the target audience to evaluate the likely merits and demerits of investing in nuclear energy production. An element of bias also stems from the article as the research fails to provide alternative solutions to enhance cheaper nuclear energy production. Throughout the article, much emphasis has been placed on the incurred costs of producing nuclear energy. A precise focus has been placed on the expected costs that stakeholders will have to part with during the nuclear power plant set-up. Despite the information being resourceful, the analysis fails to provide ideal countermeasures that can be used to enhance cheaper production. One can easily conclude that additional research on the subject ought to be done for the article to provide alternative solutions to curb the crisis. By conducting further research, the analysis will provide adequate time for students, environmental analysts, and activists to understand current analyses pertaining to nuclear energy production.

NUCLEAR ENERGY PRODUCTION 8 References Nuclear For Net Zero, 2023. Nuclear for net zero. Nuclear For Net Zero. https://nuclearfornetzero.org/info/price/

Nuclear Energy

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