It’s really not, nuclear inherently requires extreme costs to operate. Compare costs vs coal which isn’t cost competitive these days. Nuclear inherently need a lot more effort refining fuel as you can’t just dig a shovel full of ore and burn it. Even after refining you can’t just dump fuel in, you need fuel assemblies. Nuclear must have a more complicated boiler setup with an extra coolant loop. You need shielding and equipment to move spent fuel and a spent fuel cooling pond. Insurance isn’t cheap when mistakes can cost hundreds of billions. Decommissioning could be a little cheaper with laxer standards, but it’s never going to be cheap. Etc etc.
Worse, all those capital costs mean you’re selling most of your output 24/7 at generally low wholesale spot prices unlike hydro, natural gas, or battery backed solar which can benefit from peak pricing.
That’s not regulations that’s just inherent requirements for the underlying technology. People talk about small modular reactors, but small modular reactors are only making heat they don’t actually drive costs down meaningfully. Similarly the vast majority of regulations come from lessons learned so yea they spend a lot of effort avoiding foreign materials falling into the spent fuel pool, but failing to do so can mean months of downtime and tens of millions in costs so there isn’t some opportunity to save money by avoiding that regulation.
See https://ourworldindata.org/safest-sources-of-energy for detailed stats.
I think we should target “risk parity with Gas” until climate change is under control.
And the land rendered uninhabitable would represent less land lost than is expected to be lost from sea level rise, most of which will be extremely hi-value coastal areas.
There is no way you can run the numbers where nuclear, even with dramatically reduced safety standards, is not preferable to fossil fuels. By making it so expensive with such heavy regulations, all we have done is forced ourselves to use the worse-in-all-possible ways fuel source for most of a century, causing millions of premature deaths and untold billions in environmental damages.
Over-regulation of nuclear is high up on the list of greatest civilizational blunders humanity has ever made.