With energy five times as expensive … we would take a
substantial hit to incomes. Our living standard would decline by about 11
percent. But we would still be fantastically rich compared to the pre-industrial
world. … Our income would still be above the current living standards in
Canada, Sweden or England. Oh, the suffering humanity! At current rates of
economic growth we would gain back the income losses from having to convert to
solar power in less than six years….
That is Greg Clark, link here.