If we wanted to become 100% solar powered in our electricity grid, is the cost / benefit too high versus even outlandish alternatives? It’s an important question, because electricity generation accounts for 40% of greenhouse gas emissions.
Some numbers for our back of the envelope calculation:
- The current production of electricity in the US is just over 1 Terawatt (yep, 1 * 10^12 Terawatts) according to the EIA
- The installed cost of a watt of solar power is $5 – $8 today according to my friends in the installation business and other sources
So the simple calculation: it’s going to cost $5 to $8 Trillion dollars in capital costs for solar power.
We must put $8 trillion dollars in perspective. It’s hard. NPR just ran a story this morning about teaching grade school kids about big numbers. The teacher, counting a single dollar bill a second, helps the students calculate that it would take over 32 years of counting to reach $1B (best quote: “That’s older than my dad!”). So, $8 trillion, also known as $8,000,000,000,000, would take 256,000 years of counting for that industrious teacher.
Rather than compare $8 trillion to a stack of dollar bills between here and the moon, I thought this might be better:
- It’s a 20’ seawall around the 12,000 mile coast of the US at $100 million per mile (100x more than estimates), PLUS
- purchase of all the newly arid farmland in Canada ($1,000 per acre for 167m acres, about 50% of total U.S. cultivated farmland) PLUS
- respirators for every American at $100 per respirator, PLUS
- a lifetime’s supply of sunscreen, PLUS
- We’ve still got some cash left over.
OR, it’s 360,000,000 Toyota Prius’s . That’s nearly 5 per U.S. family. Or it’s 130,000,000 Tesla S all electric cars, that’s 13 years of new car sales.
Regardless, let’s have the government pay for it. After paying the Medicare and Medicaid, Social Security and other mandatory benefits, it’s 25 years of Federal discretionary income. Of course, say goodbye to Defense, Education, National Parks, Transportation, and essentially every other government program that has a cabinet Secretary.
The bottom line on solar: it’s expensive. Let’s not jump too quickly. No one would suggest that we build 12,000 miles of seawall, or buy Prius’s for every American driver. These ridiculous programs, though, cost less, and save lives and property (in the case of the seawall) and the environment (electric cars) to a similar degree.
[Note: maybe instead we should be conserving. That’s a different post, but briefly: conservation is also tricky. In the same NPR broadcast this morning, manufacturers were talking about a 15% reduction in greenhouse gas emissions by 2020. Sadly, just to counteract the pollution impact of a rising global population, we must reduce total per capita emissions by more than 10% per decade. The manufacturers basically announced they would do their bit to make it merely as bad as today.]