One of the negative offshoots of the Russian President Wladimir Putinwar in Ukraine is the unprecedented energy crisis in Europe. Soaring energy demands as economies emerged from the pandemic, disruption to Russia’s natural gas flow, and severe winter weather all worked together to exacerbate the problem.

What happened: Elon Musk on Wednesday accepted Twitter to discuss a solution to the discomfort. Musk suggested that solar energy could be a panacea for the energy crisis.

See also: The best solar stocks

Musk replied to a user’s tweet with the handle @Rainmaker1973. The user shared a graphic showing three small areas in North Africa that would need to be fitted with solar panels to power the world, Europe and Germany.

Along with the map, the user also shared a link to a thesis presented by the faculty of the Technical University of Braunschweig, which concluded that an area of ​​254 km would be needed to meet all of the world’s electricity needs. An area of ​​110 km would be sufficient for the EU-25 countries and 45 km for Germany.

Why it matters: Musk’s flagship electric vehicle company Tesla Inc. TSLA has an auxiliary power business. Established in April 2015, the subsidiary manufactures and markets photovoltaic solar power generation systems, battery storage products and related products and services. She looks after private, commercial and industrial customers.

The 2016 acquisition of SolarCity helped expand Tesla’s energy business to include solar power generation.

Tesla’s energy storage business could be worth $47 billion or $15 a share by 2030, according to Bernstein analyst Toni Sacconaghi.

Meanwhile, Europe is struggling to resolve its energy crisis amid an 80 percent power cut and a 15-fold hike in wholesale electricity and gas prices since 2021, IMF said in a recent report.
JPMorgans Jamie Dimon said in a recent interview that the energy crisis in Europe can last for years.

Continue reading: As European energy bills…