On the basis that Solar Thermal with storage can provide about 70% capacity factor, the 69% they estimate seems in line with this factor.
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But $420 billion in subsidies from 2011 to 2050 would be required to fund the infrastructure and make it cost-competitive
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A Solar Grand Plan: Scientific American
Hmm that seems a bit less than the cost of the Iraq war to date, that's now costing around $100 billion a year. Sounds like a good investment over 40 years. I actually think conceptually at least, their goal is quite achievable as solar energy wattage production is growing globally at 30% per year. They might near get there by default, based on current growth rates for solar.