Enough sunlight strikes unshaded U.S. rooftops to replace all the coal and some of the natural gas we use to make electricity. Backup via ground source heat pumps, and smart grid technology would allow this variable energy source to displace base-load coal with today's technology. Whether this is the most cost effective way to displace coal is another question. Also rooftop solar is a silver BB rather than a silver bullet: Even after massive efficiency improvements we will need to get many times the power from non-rooftop sources than from rooftops.
According to a 2003 study by the Energy Foundation (PDF), solar PV that converts 15 percent of sunlight to electricity could produce 710,000 Megawatts on rooftops that will be available in 2050. Doug Wood thinks that with concentrating PV using advanced aerospace quality cells we could convert solar at 30 percent rather than 15 percent efficiency. Scaling back to rooftops available today (using 2003 numbers from the same study and extrapolating forward) we could produce around 1.05 billion megawatts today. We normally assume 22 percent capacity factor (PDF) for PV. So that would give us about 2.3 billion megawatt hours, or around 56 percent of today's electrical production -- more than coal provides.
Further, waste heat from this process could provide much of our heating and cooling needs as well. The EF study I cited suggests that about 65 percent of commercial roof space is unshaded compared to about 22 percent of residential roof space. Since some commercial scale chillers run on low to medium temp heat today, with enough storage solar CHP could provide close to 100 percent of commercial heating and cooling. But that much storage takes a lot of capital for a small incremental gain. So more realistically, we would put 16 to 24 hours of low temp Phase Change Material storage and use ground source heat pumps to provide the other 15 percent of low temp needs. As a side effect, the overnight storage would let us run those heat pumps when the electricity was cheapest -- which will prove more important than it might appear at first glance.