Solar storms could cost USA tens of billions of dollars

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The daily economic cost to the USA from solar storm-induced electricity blackouts could be in the tens of billions of dollars, with more than half the loss from indirect costs outside the blackout zone, according to a new study led by University of Cambridge researchers.

Previous studies have focused on direct economic costs within the blackout zone, failing to take account of indirect domestic and international supply chain loss from extreme space weather.

According to the study, published in the journal Space Weather, on average the direct economic cost incurred from disruption to electricity represents just under a half of the total potential macroeconomic cost. Continue reading Solar storms could cost USA tens of billions of dollars