Yeah, solar storms happen every once in a while; they're a product of the Sun's normal activity. You've probably heard of the 11-year solar maximum/minimum cycle. What's happening right now is that the sun is approaching the active end of the cycle. We can expect to see interesting stuff happen over the next couple of years, including (possibly) mass ejections of solar plasma (energetic protons, for the most part) that play hell with all our electronic technology.
solar storms happen all the time, there is nothing to be concerned about. what i think you mean is a giant solar storm. those things can be quite catastrophic but since i believe that this is another one of those 2012 things, it's probably made up. There has been a bagillion predictions of doomsday counting from the beginning of human history. Solar storms will come eventually but its unlikely to happen in the near future.
Yes. It's part of Solar Maximum. It's something that occurs every 11-15 years, so there's no need to worry about it. The worst it would do is knock out satellites, which would be repairable.