Musk puts $14 trillion price tag on sticking by fossil fuels
caverns to store energy, a retooling of heavy industries like steel and cement-making, and homes to businesses warmed or cooled with heat pumps.— is higher, Tesla argues, and at 2022 rates would total about $14 trillion over the next two decades.
While the $10 trillion investment cost of a cleaner world is high, Musk argues that’s just a fraction of the $100 trillion global economy and entirely feasible when spread out over two decades. The world’s metals sector would be poised for a major demand boom under Musk’s scenario. A total of $502 billion of mining capital expenditure and $662 billion of spending on refining would be needed to produce the nickel, lithium, copper and other materials to be used in batteries and clean-energy equipment, Tesla forecasts.
There’s also little prospect of the world exhausting supplies of required metals, as only a fraction of current resources are needed and higher demand will encourage explorers to look for new deposits.
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