US economy could lose $1.81 billion daily to severe solar storms

A study published in AGU Advances estimates that a severe geomagnetic storm, such as a 250-year return period event, could cause approximately $1.81 billion in daily economic losses in the United States. The research, led by Edward J. Oughton, suggests such a storm could disrupt electricity for roughly 5.1 million people and 135,000 businesses.

The most vulnerable regions identified include the Northeast and the Northern Plains, particularly at higher latitudes. In a less severe 100-year scenario, researchers estimate daily economic losses could reach $1.22 billion, affecting 3.45 million people and 91,000 businesses.

While the study models potential disruptions to transformers and the power network, researchers noted that the exact timing of such solar events is unpredictable. The findings highlight the potential for significant direct and indirect costs to US industries and electric systems during rare, massive solar storms.