Space Weather – the Economic Case

Abstract:

Following on from the UK Government’s placement of space weather on it’s National Risk Register, in 2011, and the Royal Academy of Engineering’s study into the impacts of a severe space weather event, the next piece of key evidence, to underpin future investment decisions, is understanding the socio-economic impact of space weather

This poster outlines a study, funded by the UK Space Agency, which will assess the socio-economic cost of space weather, both severe events, such as 1989 & a modern day repeat of the Carrington storm and also the cost of day-to-day impacts. The study will go on to estimate the cost benefit of forecasting and also investigate options for an operational L5 spacecraft mission and knowledge exchange activities with the South African Space Agency.

The findings from the initial space weather socio-economic literature review will be presented along with other findings to date and sets out the tasks for the remainder of this programme of work.