During Tesla’s Investor Day held in March, Elon Musk touched on Tesla’s Master Plan Part 3, which outlines a proposed path to reach a sustainable global energy economy through end-use electrification and sustainable electricity generation and storage. At that time, Musk said that Tesla would publish the assumptions, sources and calculations behind that proposal. (Earlier post.) Tesla has now done so.
Tesla’s modeling suggests that the electrified and sustainable future is technically feasible and requires less investment and less material extraction than continuing today’s unsustainable energy economy.
Tesla says that the fully electrified and sustainable economy is within reach through the actions outlined in the paper:
- Repower the Existing Grid with Renewables
- Switch to Electric Vehicles
- Switch to Heat Pumps in Residential, Business & Industry
- Electrify High Temperature Heat Delivery and Hydrogen Production
- Sustainably Fuel Planes & Boats
- Manufacture the Sustainable Energy Economy
This all will require a $10.4-trillion manufacturing investment (as compared to the $14 trillion projected 20-year spend on fossil fuels at the 2022 investment rate), 240 TWh of energy storage, and 30 TW of renewable power, according to Tesla’s calculations.
According to Tesla’s calculations, the fully electrified and sustainable economy is within reach and would require a $10.4-trillion manufacturing investment, 240 TWh of energy storage, and 30 TW of renewable power.