Understanding the Financial Impact of Solar Storms
The May 2024 solar storm has left a significant mark on the agricultural sector, causing an estimated $500 million in damages to farmers across the United States. This extreme weather event disrupted GPS technology, leading to inaccuracies of up to 230 feet during its peak. Farmers rely heavily on GPS for precision farming, making this disruption particularly detrimental.
Experts warn that such solar storms, which occur roughly every 20 years, can have far-reaching consequences beyond immediate financial losses. The agricultural industry must prepare for future events by investing in better technology and backup systems to mitigate the effects of solar disturbances. Understanding these risks is crucial for farmers and policymakers alike to safeguard against future occurrences.