This basically correct, thanks for posting, but Isn't much use by itself, it is only a small part of the overall truth of how Bitcoin relates to renewables, and the overall problem that needs to be solved.
In essence, proof of work converts solar energy, only solar energy, to money. By doing so, it makes solar energy better than free. And by it being continually mixed into the world economy, capital, all capital, even gold, is being technically diluted in such a way that we are increasingly seeing money given away for free, going up in value, relative to other money which isn't.
Since the proportion of power supplied from solar is always increasing, as are Bitcoins always produced with ever increasing difficulty, it follows that Bitcoin, being by far the most established, is pushing up solar power capacity.
There is no reason to expect it will not keep doing so until there is sufficient solar capacity to power the world alone.
Assuming this is so, in only a few years we will see a solar powered world, and we'll notice that Bitcoin is the unique mechanism which can be used to allocate the solar power, rather than being a currency representing a fixed amount of capital, which by then will be meaningless, it actually is proof of the solar power it took to create it, at a rate of around 1MW per Bitcoin.
So possession of an amount of Bitcoin becomes a measure of how much power is at one's disposal to use from a grid of free electrical power (free because it is recognised as most valuable given away for free)
We can choose to consume more or less than the amount of power indicated by the amount of Bitcoin held, but the value of what we produce, including our own tokens, and those of any organisations we represent, peaks, when we use ecactly the amount power indicated by the amount of Bitcoin held.
In that scenario, load balancing becomes important again, but also missing from your analysis, is the existence and usage of green hydrogen fuel cells, which instead of converting excess power to money, as you've explained indirectly, converts solar power to clean fuel.
It makes far more sense to load balance by venting excess power into hydrogen fuel production than into money (which might be spent on fossil fuels).
check out plug power for more info on green hydrogen producing fuel cells, already in use in some places for solar backup.