Geomagnetic storms: an introduction to the risk

Abstract

Geomagnetic storms pose a potential global catastrophic risk that can gravely impact the functionality of modern electrical grids and infrastructure. These disasters are caused by cataclysms on the sun, which propel magnetically charged matter toward the earth, disrupting terrestrial magnetic fields and thus inducing power surges through electrical grids. An extreme storm, in the worst-case scenario, could cause prolonged blackouts on a continental scale, costing trillions of dollars in economic damage and significant loss of life. Currently available historical and scientific data does not conclusively establish the frequency and likelihood of such extreme storms. However, due to the enormity of potential consequences, more attention and mitigation efforts from governmental bodies are required. Disagreements exist regarding the potential extent of grid damage and the innate resilience of power systems, underlining the need for further research and understanding of the issue. – AI-generated abstract.