Nuclear

Rising of industry revolution and technology development is significant parts to increase energy consumption in the world. However the whole world is supplied with two main sources for generating electricity. First source is non-renewable energy, such as, fossil fuel power and nuclear power. Another source is renewable energy, such as solar power and hydro power (National Energy Education Development Project, 2011, p.7). Although fossil fuel plants require less investment for construction and the source of renewable energy will never run out, the electricity cost of nuclear power is more inexpensive than fossil fuels power and more reliable than solar power. Therefore, nuclear power is the most efficient by far of any energy source and due to this; it should be used on the main power source of the world.

Nuclear power can play an essential role to reduce the cost of electricity generating. In terms of the economy, the production costs of a nuclear power plant in order to generate electricity attract investors to invest their money in the nuclear power industry rather than fossil fuel power industry. According to the data of electricity production costs, which only calculated on operation costs maintenance costs and fuel costs, illustrated that the production costs of nuclear power were 2.14 cents per kilowatt-hour, while the production costs of coal power were 3.06 cents per kilowatt-hour (Ventyx velocity suite, 2011, cited in Nuclear Energy Institute (NEI), n.d.). From this argument, a report from World Nuclear Association (WNA) (2005, p.10) pointed out at two essential factors, which maintained production costs of nuclear power in low level. Firstly, the price of nuclear fuels has significantly decreased over 2 decades. Secondly, operation and maintenance costs have not much difference from other power plants, which used other sources. Therefore, the low cost of nuclear fuels makes nuclear power competing with fossil fuel energy.

Conversely, the...