A panel of nuclear experts on Monday largely approved a government report saying that atomic power remains the cheapest source of electricity despite the rising safety costs triggered by the 2011 Fukushima core meltdowns.

Despite an expected glut in solar power, the government is looking to make nuclear power account for 20 to 22 percent of Japan's electricity supply by 2030, underscoring its policy of sticking with atomic power even though the majority of the public remains opposed to restarting its idled reactors.

According to the latest estimate of power generation costs by the Ministry of Economy, Trade and Industry, atomic power would cost at least ¥10.3 per kilowatt-hour in 2030 — cheaper than power derived from fossil fuels, natural gas, wind and solar energy.