Dennis Jasbey said:$100 billion worldwide, including magnetic and laser fusion.
The estimated cost of developing fusion technology varies depending on the specific approach and project. Generally, it can range from tens of millions to billions of dollars. For example, the International Thermonuclear Experimental Reactor (ITER) project, which aims to demonstrate the feasibility of fusion energy, has an estimated cost of over $20 billion.
Currently, fusion technology is more expensive than traditional energy sources, such as fossil fuels and nuclear power. However, as research and development continue, the cost of fusion is expected to decrease and become more competitive with other sources of energy.
The high cost of fusion technology is primarily due to the complex and challenging nature of the research and development process. This includes the need for advanced materials, high-tech equipment, and highly skilled scientists and engineers. Additionally, the long timelines for developing and testing fusion technology also contribute to the cost.
If successfully developed, fusion technology has the potential to provide a virtually limitless, clean, and safe source of energy. This could greatly reduce our dependence on fossil fuels and mitigate the impacts of climate change. It could also create new industries and job opportunities in the energy sector.
To make fusion technology more cost-effective, continued research and development efforts are necessary. This includes finding ways to improve the efficiency of fusion reactions and reducing the costs of materials and equipment. Collaboration between governments, research institutions, and private companies can also help to share resources and expertise and drive down costs.