The Costs of the Geological Disposal of Carbon Dioxide and Radioactive Waste

Abstract

Cost assessments of geological disposal of carbon dioxide and radioactive waste are presented. The scope of the cost assessments covers a range of activities from research, site identification, licensing and construction to operation, closure and post-closure monitoring of the disposal sites. The most meaningful indicator for comparison is the disposal cost per unit of electricity produced. The comparative assessment reveals important differences between the two waste products in the volume of material involved and the precautions to be taken that determine the cost per kWh indicator. The timing of investment to establish the disposal site is an important difference with significant cost implications: investments must be completed before starting CO2 capture from fossil power plants whereas investments in radioactive waste repositories can be postponed for decades after the waste emerges from nuclear power reactors. The investment costs are significant and mid-course corrections are expensive; hence, both technologies need stable regulatory systems.