(Worldsfeed News Desk)Tesla CEO Elon Musk has estimated that it would cost $10 trillion to convert the world entirely to clean energy, but continuing to rely on fossil fuels would cost even more. Tesla’s Master Plan Part 3 details the massive build-out of solar-panel factories and metal refineries required over the next 20 years to deliver renewable-power generation and electricity-storage capacity needed to power the global economy entirely with carbon-free energy.
The vision for a world without fossil fuels includes upgraded grids powered with wind and solar, global arrays of battery farms and underground hydrogen caverns to store energy, a retooling of heavy industries like steel and cement-making, and homes to businesses warmed or cooled with heat pumps.
Tesla argues that the cost of continuing to produce oil, coal and natural gas is higher, and at 2022 rates would total about $14 trillion over the next two decades. Musk’s envisaged global energy system requires about 30,000 gigawatts of renewable-power capacity and 240,000 gigawatt-hours of storage batteries.
The plan would represent a huge boon to clean tech firms like Tesla, as the renewable energy and stationary energy storage sectors are forecast to expand significantly in the coming years.