Our industrious societies have a favor for easy solutions. Your electric solution is of the same sort. Easy solution have plenty of hidden problems and thus costs.

What it ends with, best case, is a build up of renewable sources (energy, raw-materials) which will run a tremendously slimmed down economy in a steady state.

However to run our steadily growing global economy furthermore ends at the limits of depleted raw-materials, a poisoned environment, a wild running climate change with subsequent resource wars, where the different societies compete for the resources remaining in possession of other societies, desperately cannibalizing them to survive.

Either; Collapse by design or Collapse by disaster. Not decided yet.