Elon Musk & Tesla claim that investing in clean energy will cost us $4 trillion less compared to continued investments in fossil fuels. Musk believes that his mission is to solve the most pressing problems facing the planet, including the energy demand that causes pollution. Tesla’s Master Plan 3, presented in March, outlines the company’s plans to achieve global sustainable energy without harming the environment.
The plan portrays a fully electrified global economy with fossil fuels largely off the horizon and even calculates the cheapest way to generate and store enough electricity to meet global demand. As per the paper, the world needs 30 terawatts of renewable power and 240 TWh of energy storage infrastructure, which would cost a $10 trillion investment.
There are zero insurmountable resource challenges to achieve this, according to Tesla. There are several steps that need to be taken before attaining a completely sustainable future. The Itinerary includes vastly increasing global renewable energy production and switching to electric vehicles. The Master Plan 3 provides a forward-leaning approach towards material intensity, manufacturing capacity, and manufacturing investment required for the transition away from worldwide fossil-based energy sectors.
The paper finds a sustainable energy economy is technically feasible and requires less investment and less material extraction than continuing today’s unsustainable energy economy. According to Tesla the future of sustainable energy will not just require a shift in how energy is produced but also how it is utilized.
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Experts from all sectors will likely present their analysis of Tesla’s plan, as there are many numbers and challenges to consider. The Master Plan 3 is a path towards a fully sustainable global energy economy through end-use electrification and sustainable electricity generation and storage.