Tech mogul Elon Musk and his company Tesla released the full text of the company’s Master Plan 3 this week, a little over a month after the highlights were unveiled at a Tesla investor meeting.
The plan lays out how the world can eliminate fossil fuel consumption in the next 20 years with a $10 trillion investment. The plan details how the world can shift entirely to renewable energy in six steps.— Switch to heat pumps in residences, businesses and industrial facilities;— Use electricity or biomass to fuel planes and boats;Several complex ideas are scattered throughout the 41-page report.
“Globally, 65PWh/year of primary energy is supplied to the electricity sector, including 46PWh/year of fossil fuels; however only 26PWh/year of electricity is produced, due to inefficiencies transforming fossil fuels into electricity. If the grid were instead renewably powered, only 26PWh/year of sustainable generation would be required,” the report reads.
Tesla also envisions a fully electrified supply chain with planes and boats powered by renewable energy. The report argues that if shipping boats are electrified they would consume significantly less energy and that short flights can be entirely electrified with current batteries. The report claims that the plan outlined will save the planet around $4 trillion that would be normally spent on fossil fuels such as oil and coal. However, the implementation of the plan isn’t up to Tesla as the money will likely have to be spent by national governments and numerous other private companies.
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