Elon Musk says it will cost $14 trillion for the world to rely on fossil fuels but a lot less to convert to clean energy

 Elon Musk made his vision for Tesla and a sustainable future public last month, but he didn't say much about it. On Wednesday, the organization spread out exhaustively the numerical behind his supposed Ground breaking strategy 3 including what the economy at large might resemble in a greener future and the amount it would cost contrasted with the other option.

According to Tesla's report, a sustainable energy-based economy is not only feasible but also preferable financially. The switch would require "less speculation and less material extraction than proceeding with the present unreasonable energy economy," Tesla found. According to the paper, sticking to oil, coal, and natural gas would end up costing $14 trillion globally over the next two decades, which is a difference in price roughly equivalent to the annual GDP of Germany. However, the investment required to develop a sustainable economy—based on an electrical grid, manufacturing industries powered by renewable energy, and electrified transportation—would be $10 trillion.

Facilities for recycling batteries, mining and refining infrastructure for raw materials like lithium and nickel, and factories for wind turbines, solar panels, and electric vehicles are examples of sustainable economy elements that would require investment.

The greater expenses of a petroleum derivative ward economy would originate from diminishing hydrocarbon supplies later on that would make remaining stores more costly and lost proficiency. The report by Tesla pointed out that current technologies like gas furnaces and combustion engine cars can be extremely inefficient, and that only 36% of the energy produced by current sources can be used for productive work or heating in today's economy. Even though the report noted that expanding the infrastructure for mining, refining, and manufacturing will require trillions of dollars in new investments, transitioning to a sustainable economy is expensive but presents "zero insurmountable resource challenges."

Changing to a spotless and reasonable economy would obviously help Tesla as it would build the accessibility of lithium — a key mineral in vehicle batteries. A lithium lack has been top of brain for Elon Musk for quite a long time, to such an extent that Tesla is building its own lithium processing plant in Texas to have more control of the important metal's production network. According to Tesla's report, out of the $10 trillion cost of a sustainable economy, almost $1.2 trillion would be spent on mining and refinery.