Tesla has unveiled Master Plan 3, which aims to move humanity out of dependence on fossil fuels and into a fully sustainable energy economy. The company explained that it can achieve this, with just a $10 trillion investment.
Although Elon Musk is known for his ambitious goals for the colonization of Mars, he is also very concerned about the Earth. Tesla's goal has always been to help humanity create a better, safer, and more environmentally friendly future. In the company's early years, its roadmap focused on creating products that will help captivate consumers and encourage them to switch towards a sustainable energy economy. Once this was achieved, Elon Musk developed a new roadmap, which was unveiled during Investor Day, that describes how to provide the world with sustainable energy and rid it of dependence on fossil fuels.
The company has used numerous data to show its achievements and the way it can succeed. According to them, 80% of the energy currently used worldwide comes from fossil fuels. This is not only harmful to the environment but also wasteful. Only a third of the energy from coal, oil or gas can be put to good use. On the other hand, wind turbines, photovoltaic systems, etc. will produce electricity much more efficiently. An economy based solely on renewable energy would cut global energy consumption in half. Instead of 165 petawatt-hours per year, only 82 petawatt-hours will be required to cover the annual energy needs of mankind. In order to make this a reality for the entire planet, an investment of only $10 trillion will be needed.
Thinking globally, on a scale, using $10 trillion is a relatively small investment in a sustainable future when compared to a much higher global economic outcome. Money is needed to take the world a few steps toward a sustainable future, and the expansion of global energy storage capacity plays a central role here.
According to Tesla's calculations, this will require a power of 240 terawatts. In addition to stationary energy storage, electric vehicles will also be used to store excess electricity generated from wind and solar. The company pointed out that it would take only 0.2 percent of the Earth's surface to accommodate the capacity to generate renewable energy. At the same time, it should be kept in mind that territories unsuitable for life, such as wastelands and deserts, can be used for this.
Tesla says the next steps towards a fully sustainable energy economy include developing drivetrains for sustainable ships and aircraft, and converting the heating systems of households, companies, and businesses into heat pumps. The company said it would consider creating its own in the future.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.