A research agreement will provide Caltech up to $17.5 million over three years to have the Space Solar Power Initiative funded. The Space Solar Power Initiative(SSPI) will develop the scientific and technological innovations necessary to enable a space-based solar power system—consisting of ultralight, high-efficiency photovoltaics, a phased-array system to produce and distribute power dynamically, and ultralight deployable space structures—that ultimately will be capable of generating electric power at a cost comparable to that from fossil-fuel power plants. – See more at: https://www.caltech.edu/news/space-based-solar-power-project-funded-46644#sthash.GZvrBCT8.dpuf
Space Solar Power Initiative Funded
In encouraging news for space-based solar power (see The Future of Business), a research agreement between Caltech and Northrop Grumman Corporation will allocate over $15 million in funds to have the Space Solar Power Initiative funded, in order to create distributed space-based solar power for distribution throughout the world.
Using a self assembling system of 10cm x 10cm tiles that weigh just over a gram, the team at Caltech believes that it can create a proof-of-concept satellite that can capture a portion of the astronomical amount of energy that hits the Earth’s atmosphere every year. While our current energy consumption is a few exajoules per year, a hundreds of millions of exajoules hit the atmosphere from the Sun in that same timeframe.
This technology can radically change the energy landscape as we now know it in a number of ways, many of which I talk about in The Future of Business. To cut to the point, the energy availability with space-based solar power is virtually limitless compared to our current energy technology, and can outproduce and outsell all fossil fuel sources within a few decades. Furthermore, this enables wireless power transmission to further permeate our society and create a perfect infrastructure for electric vehicles.
Read more at Northrop Grumman Corporation.