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Space-Based Solar Power:
Physics, Costs and the Path to Firm Power from Orbit

The physics of space-based solar power works; the economics do not yet. A collector in geostationary orbit is lit about 99% of the year, and power has been beamed wirelessly in orbit (Caltech, 2023) and by laser over 8.6 km on the ground (DARPA, 2025). But only about 18% of the sunlight collected reaches the grid with microwaves, and a 2 GW plant at 10 kg per kilowatt weighs about 20,000 tonnes, needing some 200 heavy launches. On Setcoin's reference ($1,000/kg launch, $2/W hardware) power costs about $357/MWh, with launch 92% of capital; at $200/kg it falls to about $95/MWh. Space hardware at hundreds of dollars a watt is the second gap. Early customers are defence, remote sites and data centres, not grids.

~$357
Per MWh, Setcoin reference cost
~92%
Launch share of capital
~18%
Sunlight that reaches the grid
180 min
Read, 98 chapters

Chapters

What each chapter answers

  1. 014 min · Free

    Executive Summary and Reading Guide

    At what launch price and hardware cost could electricity beamed from orbit compete with firm power on Earth, and what should decision-makers take from the evidence in 2026?

    Key figures
  2. 022 min · Free

    What Space-Based Solar Power Is, and Is Not

    What exactly is space-based solar power, and how do the competing approaches differ?

    Comparison
  3. 032 min · Free

    Key Numbers at a Glance

    Which numbers should a reader keep in mind when judging any claim about space solar power?

  4. 042 min · Subscribers

    Fifty-Eight Years of an Idea

    How has space-based solar power evolved since it was first proposed, and why did earlier efforts stop?

    Timeline
  5. 053 min · Subscribers

    A Plant on One Page: a Worked 2 GW Example

    What would a single 2-gigawatt space solar plant look like, end to end, on Setcoin's reference assumptions?

    Key figures
  6. 062 min · Subscribers

    Why Now?

    Why has space-based solar power returned to serious attention in the mid-2020s?

  7. 072 min · Subscribers

    Lessons from the 1979 Reference System

    What did the first full study of a solar power satellite conclude, and which of its lessons still hold?

  8. 082 min · Subscribers

    Method: How Setcoin Assesses Space Solar Power

    How does this study estimate costs and judge evidence, and how can readers test the conclusions?

  9. 092 min · Subscribers

    Sunlight in Orbit: the Basic Advantage

    What exactly does a solar array gain by being in orbit, and how large is the advantage?

  10. 102 min · Subscribers

    Concepts Compared: CASSIOPeiA, SPS-ALPHA, Tiles and Mirrors

    Which designs are being studied, and how do they differ in principle?

    Comparison
  11. 112 min · Subscribers

    CASSIOPeiA in Detail

    How does the UK's leading design work, and what are its strengths and open questions?

  12. 122 min · Subscribers

    Europe: ESA's SOLARIS Programme

    What has ESA done on space-based solar power, and where does the programme stand?

  13. 132 min · Subscribers

    SPS-ALPHA and Modular Concentrators

    How do concentrator designs such as SPS-ALPHA differ, and what do they trade?

  14. 142 min · Subscribers

    The United Kingdom: Studies, Competitions and Space Solar

    How has the UK approached space-based solar power, and how far has its leading company progressed?

  15. 152 min · Subscribers

    The United States: NASA, Caltech, AFRL and DARPA

    What has the US done on space-based solar power, and what did NASA's cost study conclude?

    Timeline
  16. 162 min · Subscribers

    Caltech's Space Solar Power Project in Detail

    What did Caltech's programme set out to do, what did its first flight show and why does it matter?

  17. 171 min · Subscribers

    Japan: Decades of Research and OHISAMA

    What has Japan contributed, and what is the status of its orbital demonstration?

  18. 181 min · Subscribers

    Other National Programmes: Korea, India and Beyond

    Which other countries are working on space solar power, and what are they doing?

  19. 192 min · Subscribers

    China: a National Roadmap to Gigawatts

    What is China planning, and how credible is its timeline?

  20. 202 min · Subscribers

    Europe's Industry Base for Space Solar Power

    Which European companies and research groups could build a space solar plant, and what have they done so far?

  21. 212 min · Subscribers

    The Companies

    Which private companies are pursuing space-based power, what are they building and how far along are they?

  22. 222 min · Subscribers

    Case Study: the Meta–Overview Energy Agreement

    What did Meta agree with Overview Energy, and what does it tell us about demand?

  23. 232 min · Subscribers

    Demonstrations So Far

    What has actually been demonstrated in power beaming and space solar, and how far is it from a power plant?

    Ranking
  24. 242 min · Subscribers

    What a First Orbital Demonstrator Should Prove

    What should the first serious orbit-to-ground demonstration measure, so that its results can be used to judge the economics?

  25. 252 min · Subscribers

    Beam Physics: Why Antennas Must Be Large

    How does the physics of diffraction set the size of transmitters and receivers?

    Ranking
  26. 262 min · Subscribers

    The Ionosphere and the Upper Atmosphere

    Does a powerful microwave beam passing through the ionosphere heat or disturb it?

  27. 272 min · Subscribers

    The Efficiency Chain: Microwave Systems

    How much of the sunlight collected in orbit reaches the grid, step by step?

  28. 282 min · Subscribers

    Inside the Transmitter: Amplifiers, Antennas and Heat

    Why is the transmitter often the hardest part of a microwave solar power satellite?

  29. 292 min · Subscribers

    Laser Power Beaming

    What do lasers offer compared with microwaves, and what do they cost in efficiency?

  30. 302 min · Subscribers

    Laser Receivers: Photovoltaics Tuned to Light

    How do laser power receivers work, and how efficient can they become?

  31. 312 min · Subscribers

    Mirrors and Near-Infrared: Lighting Existing Solar Farms

    Can sunlight or light beamed from orbit simply make existing solar farms produce at night?

  32. 322 min · Subscribers

    Microwaves or Lasers? A Side-by-Side Comparison

    Which way of sending power to Earth is better, and for whom?

  33. 332 min · Subscribers

    Rectennas and Land Use

    How large are the receivers for microwave systems, and how much land do they need?

    Ranking
  34. 342 min · Subscribers

    Offshore Rectennas

    Could microwave receivers be built at sea, and what would that solve?

  35. 352 min · Subscribers

    Safety: Beams, Birds, Aircraft and Eyes

    Is power beamed from orbit safe, and what would regulators require?

  36. 362 min · Subscribers

    Health Evidence on Microwave Exposure

    What does research say about the health effects of the microwave intensities that a space solar plant would produce?

  37. 371 min · Subscribers

    Spectrum and the ITU

    Which frequencies would SBSP use, and what international coordination does it need?

  38. 382 min · Subscribers

    Radio Astronomy and Other Spectrum Users

    Would space solar beams interfere with radio telescopes, communications and radar?

  39. 392 min · Subscribers

    Weather and the Atmosphere

    How does weather affect power beamed from orbit?

  40. 402 min · Subscribers

    Beam Control: How a Phased Array Points Itself

    How does a space solar transmitter aim a beam precisely at a receiver 36,000 km away, and keep it safe?

  41. 412 min · Subscribers

    Mass and Specific Power

    How heavy would a space solar plant be, and why does mass per kilowatt decide its economics?

  42. 422 min · Subscribers

    Solar Cells for Space Solar Power

    Which solar cells would a space solar plant use, and what does that mean for supply?

  43. 432 min · Subscribers

    Launch Requirements: Building a Plant in Orbit

    How many launches would a gigawatt-scale plant need, how long would it take and what would launch cost?

  44. 442 min · Subscribers

    The Launch Market Space Solar Power Would Create

    How would space solar power change the launch industry, and could it drive its own launch costs down?

  45. 452 min · Subscribers

    Assembling Gigawatts in Orbit

    How would kilometre-scale structures be built in space, and is assembly the hidden bottleneck?

  46. 462 min · Subscribers

    Assembly in Orbit: What Has Been Done So Far

    What experience exists of assembling large structures in space, and how far is it from what a space solar plant needs?

  47. 472 min · Subscribers

    Hardware Cost: the Second Gap

    How much would space solar hardware need to cost, and how far is that from today?

  48. 482 min · Subscribers

    The Supply Chain for a Gigawatt

    What would it take to manufacture a gigawatt-scale plant, and which parts would be scarce?

  49. 492 min · Subscribers

    Geostationary or Low Orbit?

    Should a space solar system sit in geostationary orbit or in lower orbits, and what changes with the choice?

    Comparison
  50. 502 min · Subscribers

    Other Orbits: Medium Orbit, Elliptical Orbits and Low-Orbit Constellations

    Are there orbits other than geostationary orbit and low orbit that could work for space solar power?

  51. 512 min · Subscribers

    Operations, Servicing, Life and Debris

    What does it take to operate a space solar plant for decades, and what are the risks?

  52. 522 min · Subscribers

    Thermal Management: Getting Rid of Waste Heat

    How does a space solar plant get rid of the heat it produces, and why does that matter for mass?

  53. 532 min · Subscribers

    The Cost of Electricity: Setcoin's Model

    What would a megawatt-hour from orbit cost, and which inputs matter most?

  54. 542 min · Subscribers

    Space Solar or Ground Solar with Wires and Storage?

    Is beaming power from orbit better than building more ground solar, long transmission lines and storage?

  55. 552 min · Subscribers

    Reconciling Published Cost Estimates

    Why do published estimates for space solar power range from under $50 to more than $1,500 per megawatt-hour?

  56. 562 min · Subscribers

    Learning Curves: What Solar Panels and Rockets Teach

    How quickly could the cost of space solar power fall with experience, and what do other technologies suggest?

  57. 572 min · Subscribers

    Firm Power on Earth: the Real Competition

    What does space solar power compete with, and what would it need to cost?

  58. 581 min · Subscribers

    The Cost of the First Plant

    What would the first grid-scale space solar plant cost, as opposed to the tenth?

  59. 591 min · Subscribers

    The Break-Even Map

    Which combinations of launch price and hardware cost make space solar power competitive?

  60. 602 min · Subscribers

    If Launch Became Almost Free

    What would space solar power cost if launch prices fell to tens of dollars a kilogram?

  61. 612 min · Subscribers

    What Drives Cost: Sensitivities and Learning

    Which assumptions move the cost of space solar power most, and how fast could costs fall with experience?

  62. 621 min · Subscribers

    Inside the Reference Plant's Costs

    Where does the money go in Setcoin's 2 GW reference plant, and what does each year of operation cost?

    Ranking
  63. 632 min · Subscribers

    The Value of Firm, Movable Power

    Is the cost per megawatt-hour the right measure, or is space solar power worth more than its energy?

  64. 642 min · Subscribers

    Public Money So Far

    How much public money has gone into space solar power, and what has it bought?

  65. 652 min · Subscribers

    Financing a First Plant

    How could a first space solar plant be financed, and what does the cost of capital do to the economics?

  66. 661 min · Subscribers

    Insurance and Risk Transfer

    How would the risks of a space solar programme be insured and shared?

  67. 672 min · Subscribers

    Carbon and Lifecycle Emissions

    How clean is electricity from orbit once launches and manufacturing are counted?

  68. 682 min · Subscribers

    Building with Lunar Materials

    Could space solar plants be built from materials mined on the Moon rather than launched from Earth?

  69. 692 min · Subscribers

    Defence and Remote Power: the First Paying Customers

    Why are militaries likely to buy space-beamed power before utilities, and what would they pay?

  70. 701 min · Subscribers

    Power Beaming for the Moon and Mars

    Could the technologies of space solar power serve exploration before they serve Earth?

  71. 712 min · Subscribers

    Data Centres and Round-the-Clock Clean Power

    Why are data-centre operators interested in space-based solar power, and could they become anchor customers?

  72. 722 min · Subscribers

    Mines, Industrial Sites and Off-Grid Industry

    Could remote mines and industrial sites be early customers for beamed power?

  73. 731 min · Subscribers

    Islands, Remote Grids and Disaster Relief

    Where else could beamed power command a premium before grid parity?

  74. 741 min · Subscribers

    Hydrogen and Fuels from Space Solar Power

    Could space solar power produce hydrogen and synthetic fuels, and at what cost?

  75. 752 min · Subscribers

    Power for Satellites: a Market in Orbit

    Could beaming power to other spacecraft be the first commercial market for space power?

  76. 761 min · Subscribers

    Grid Integration and Power Markets

    How would a space solar plant connect to a grid and sell its power?

  77. 772 min · Subscribers

    Regulation: Who Licenses a Power Beam?

    Which regulators would have to approve space-based solar power, and what would they require?

  78. 782 min · Subscribers

    International Law and Security Concerns

    Does international law permit power beaming from orbit, and do security concerns pose an obstacle?

  79. 792 min · Subscribers

    Environmental Effects Beyond Carbon

    What environmental effects other than carbon emissions would space solar power have?

  80. 802 min · Subscribers

    Public Acceptance

    Would the public accept power beamed from space, and what would shape opinion?

  81. 811 min · Subscribers

    Skills and Workforce

    What skills would a space solar power industry need, and are they available?

  82. 822 min · Subscribers

    Scenarios to 2050

    How might space-based solar power develop over the next twenty-five years?

    Range chart
  83. 831 min · Subscribers

    Three Plants: Pilot, Commercial and Mature

    How would a pilot plant, a first commercial plant and a mature plant differ in size, cost and output?

  84. 842 min · Subscribers

    Roadmap: Milestones from 2026 to 2040

    What sequence of milestones would a credible programme follow, and where is the field on it?

    Timeline
  85. 852 min · Subscribers

    Designing a Public Programme: Stage Gates

    If a government decided to develop space solar power, how should it structure the programme to limit the money at risk?

  86. 862 min · Subscribers

    What Would Have to Be True

    What conditions must all hold for space-based solar power to supply grids competitively?

  87. 872 min · Subscribers

    Common Misconceptions

    What do people often get wrong about space solar power, in both directions?

  88. 881 min · Subscribers

    The Case For and Against

    Is space-based solar power a serious future energy source or a perennial dream?

  89. 892 min · Subscribers

    A Timeline of Space Solar Power

    What are the key events in the history of space solar power, from the first idea to October 2026?

  90. 901 min · Subscribers

    Lessons from Other Energy Technologies

    What can fusion, offshore wind, solar and nuclear teach space solar power?

  91. 912 min · Subscribers

    Space Solar Power and Fusion: Two Long Bets Compared

    How does space solar power compare with fusion as a long-term source of firm, clean power?

  92. 922 min · Subscribers

    Due-Diligence Checklist

    What should a buyer, government or capital provider check before backing a space solar programme?

  93. 931 min · Subscribers

    Implications by Reader

    What should each kind of reader do with this study?

  94. 942 min · Subscribers

    Risk Register

    What could go wrong for space-based solar power, how likely is it and how much would it matter?

  95. 952 min · Subscribers

    How This Study Connects to the Space Research Programme

    How does space solar power depend on the other sectors Setcoin studies?

  96. 962 min · Subscribers

    Signals to Watch

    Which events over the next few years will show whether space-based solar power is advancing?

  97. 972 min · Subscribers

    Twenty Questions This Study Answers

    What are the short answers to the questions readers most often ask about space-based solar power?

  98. 981 min · Subscribers

    Methodology and Sources

    How was this study built, and how reliable are its figures?

  99. 991 min · Subscribers

    Appendix A: Programme and Demonstration Reference Table

  100. 1002 min · Subscribers

    Appendix B: Glossary

  101. 1012 min · Subscribers

    Appendix C: Setcoin Reference Data

The first 3 chapters of this and every report are open to everyone. Space access opens all 101, with the models and their Excel files.

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