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Using wholesale electricity prices for 2008 to 2009, and the current 0.5% efficiency of power beaming, a space elevator would require US$220/kg just in electrical costs. Dr. Edwards expects technical advances to increase the efficiency to 2%.or a space elevator, the cost varies according to the design. Bradley C. Edwards received funding from NIAC from 2001 to 2003 to write a paper, describing a space elevator design.
Instead of leaving their home, however, they could opt for the installation of an elevator. According to Jay Romano, in the New York Times, the average cost of a residential elevator installation is $15,000. This sort of elevator, a 15 square foot hydraulic elevator of average design in a pre-existing home, would be able to manage weights of 500 to 1,000 pounds and rise around 50 feet in total distance.