  Electrification of all economic sectors and solar photovoltaics (PV) becoming
the lowest-cost electricity generation technology in ever more regions give
rise to new potential gains of trade. We develop a stylized analytical model to
minimize unit energy cost in autarky, open it to different trade
configurations, and evaluate it empirically. We identify large potential gains
from interhemispheric and global electricity trade by combining complementary
seasonal and diurnal cycles. The corresponding high willingness to pay for
large-scale transmission suggests far-reaching political economy and regulatory
implications.
