Presently it means that Solar power almost everywhere on earth is less expensive than any fossil fuel or any other fuels source presently known. So, both Solar and wind power could theoretically power Everything on earth by 2050 and likely will.
For example, it is completely feasible for every car and truck and home on earth to be completely powered by a combination of solar and wind about 90% of the time year around worldwide depending upon where you live on earth. The other 10% of the time you might need steam powered by natural gas or a gas or diesel generator when it is just too rainy, snowy or cloudy for too long a period.
But, even then if you have big enough batteries in every vehicle and home, all domestic vehicles and homes everywhere might be powered 100% by solar, wind and batteries everywhere.
So, solar and wind could power all domestic power needs worldwide in the future.
What's the problem with this?
Electro magnetic pulses could wipe out all power and transportation instantly everywhere they hit.
And the problem is that it is not IF it is only when. I expect one of the two to strike somewhere on earth within the next 500 years or sooner. They would likely either come from the Sun or a nuclear bomb going off in the air above a locality or city somewhere on earth.
LIke I said this is not IF it is only WHEN
Solar storm of 1859 - Wikipedia
https://en.wikipedia.org/wiki/Solar_storm_of_1859
The solar storm of 1859 (also known as the Carrington Event)
was a powerful geomagnetic solar storm during solar cycle 10
(1855–1867). A solar coronal mass ejection (CME) hit Earth's
magnetosphere and induced one of the largest geomagnetic storms on
record, September 1–2, 1859.
What If the Biggest Solar Storm on Record Happened Today?
https://news.nationalgeographic.com/.../110302-solar-flares-sun-storms-earth-danger-...
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