It takes US $ 73 trillion to achieve 100% clean energy globally

A professor at Stanford University and his team released a report that phasing out fossil fuels and operating the entire world with clean energy will pay for itself in less than seven years.

Professor Mark Jacobson from Stanford University published in a study published in the One Earth magazine that transforms the power grid, transportation, manufacturing and other systems to enable 100% renewable energy operations such as wind, solar and hydropower, including Energy storage capacity has reached day and night use and will cost $ 73 trillion, the report found, but this will be offset by annual savings of nearly $ 11 trillion, which will take about 7 years.

Jacobson co-authored the study with several other researchers and stated that "there is really no downside to making this transition. Most people worry that it is too expensive. Hope this can alleviate some of the fear."
However, some of Jacobson's past findings have been questioned, especially in a 2017 journal article that criticized his method to measure the cost of phasing out fossil fuels.

The biggest challenge in dumping fossil fuels may not be economic. Even some clean energy advocates acknowledge that there is no technology available to run the grid entirely from renewable sources without compromising reliability.

A report released by Jacobson on Friday surveyed 143 countries, which account for more than 99% of global greenhouse gas emissions. The savings will come from not extracting fossil fuels, using more efficient systems, and other benefits of a complete switch to electricity. Prior to this, Jacobson published a paper in 2015 describing the United States' plan to gradually transition to 100% renewable energy in units of states.