While there have been disruptions in communications, no significant failures in the US power grid have been reported. Intense solar storms can disrupt the digital economy. 

G5 represents the highest level of a geomagnetic storm on a scale from G1 to G5. This intense space weather event led to disturbances in some satellite orientation and operations, as well as deterioration in radio communications that rely on ionospheric transmission. Additionally, there were some outages in GPS networks. 

"The solar storm has knocked out almost all long-distance shortwave radio," Captain John Konrad, CEO of Captain, wrote on X. 

Yet, no significant impacts on the power grid have been reported. 

Elon Musk reported hours ago, "Major geomagnetic solar storm happening right now. Biggest in a long time. Starlink satellites are under a lot of pressure, but holding up so far." 

The last G5 storm to hit Earth this strong was in October 2003, which sparked power outages across Sweden and damaged transformers in South Africa. Since then, the economy's digitalization has dramatically increased, which means there's an increasing risk of grid failures and disruptions in communication networks.