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
- 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 - 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 - 032 min · Free
Key Numbers at a Glance
Which numbers should a reader keep in mind when judging any claim about space solar power?
- 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 - 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 - 062 min · Subscribers
Why Now?
Why has space-based solar power returned to serious attention in the mid-2020s?
- 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?
- 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?
- 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?
- 102 min · Subscribers
Concepts Compared: CASSIOPeiA, SPS-ALPHA, Tiles and Mirrors
Which designs are being studied, and how do they differ in principle?
Comparison - 112 min · Subscribers
CASSIOPeiA in Detail
How does the UK's leading design work, and what are its strengths and open questions?
- 122 min · Subscribers
Europe: ESA's SOLARIS Programme
What has ESA done on space-based solar power, and where does the programme stand?
- 132 min · Subscribers
SPS-ALPHA and Modular Concentrators
How do concentrator designs such as SPS-ALPHA differ, and what do they trade?
- 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?
- 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 - 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?
- 171 min · Subscribers
Japan: Decades of Research and OHISAMA
What has Japan contributed, and what is the status of its orbital demonstration?
- 181 min · Subscribers
Other National Programmes: Korea, India and Beyond
Which other countries are working on space solar power, and what are they doing?
- 192 min · Subscribers
China: a National Roadmap to Gigawatts
What is China planning, and how credible is its timeline?
- 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?
- 212 min · Subscribers
The Companies
Which private companies are pursuing space-based power, what are they building and how far along are they?
- 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?
- 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 - 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?
- 252 min · Subscribers
Beam Physics: Why Antennas Must Be Large
How does the physics of diffraction set the size of transmitters and receivers?
Ranking - 262 min · Subscribers
The Ionosphere and the Upper Atmosphere
Does a powerful microwave beam passing through the ionosphere heat or disturb it?
- 272 min · Subscribers
The Efficiency Chain: Microwave Systems
How much of the sunlight collected in orbit reaches the grid, step by step?
- 282 min · Subscribers
Inside the Transmitter: Amplifiers, Antennas and Heat
Why is the transmitter often the hardest part of a microwave solar power satellite?
- 292 min · Subscribers
Laser Power Beaming
What do lasers offer compared with microwaves, and what do they cost in efficiency?
- 302 min · Subscribers
Laser Receivers: Photovoltaics Tuned to Light
How do laser power receivers work, and how efficient can they become?
- 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?
- 322 min · Subscribers
Microwaves or Lasers? A Side-by-Side Comparison
Which way of sending power to Earth is better, and for whom?
- 332 min · Subscribers
Rectennas and Land Use
How large are the receivers for microwave systems, and how much land do they need?
Ranking - 342 min · Subscribers
Offshore Rectennas
Could microwave receivers be built at sea, and what would that solve?
- 352 min · Subscribers
Safety: Beams, Birds, Aircraft and Eyes
Is power beamed from orbit safe, and what would regulators require?
- 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?
- 371 min · Subscribers
Spectrum and the ITU
Which frequencies would SBSP use, and what international coordination does it need?
- 382 min · Subscribers
Radio Astronomy and Other Spectrum Users
Would space solar beams interfere with radio telescopes, communications and radar?
- 392 min · Subscribers
Weather and the Atmosphere
How does weather affect power beamed from orbit?
- 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?
- 412 min · Subscribers
Mass and Specific Power
How heavy would a space solar plant be, and why does mass per kilowatt decide its economics?
- 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?
- 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?
- 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?
- 452 min · Subscribers
Assembling Gigawatts in Orbit
How would kilometre-scale structures be built in space, and is assembly the hidden bottleneck?
- 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?
- 472 min · Subscribers
Hardware Cost: the Second Gap
How much would space solar hardware need to cost, and how far is that from today?
- 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?
- 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 - 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?
- 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?
- 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?
- 532 min · Subscribers
The Cost of Electricity: Setcoin's Model
What would a megawatt-hour from orbit cost, and which inputs matter most?
- 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?
- 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?
- 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?
- 572 min · Subscribers
Firm Power on Earth: the Real Competition
What does space solar power compete with, and what would it need to cost?
- 581 min · Subscribers
The Cost of the First Plant
What would the first grid-scale space solar plant cost, as opposed to the tenth?
- 591 min · Subscribers
The Break-Even Map
Which combinations of launch price and hardware cost make space solar power competitive?
- 602 min · Subscribers
If Launch Became Almost Free
What would space solar power cost if launch prices fell to tens of dollars a kilogram?
- 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?
- 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 - 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?
- 642 min · Subscribers
Public Money So Far
How much public money has gone into space solar power, and what has it bought?
- 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?
- 661 min · Subscribers
Insurance and Risk Transfer
How would the risks of a space solar programme be insured and shared?
- 672 min · Subscribers
Carbon and Lifecycle Emissions
How clean is electricity from orbit once launches and manufacturing are counted?
- 682 min · Subscribers
Building with Lunar Materials
Could space solar plants be built from materials mined on the Moon rather than launched from Earth?
- 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?
- 701 min · Subscribers
Power Beaming for the Moon and Mars
Could the technologies of space solar power serve exploration before they serve Earth?
- 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?
- 722 min · Subscribers
Mines, Industrial Sites and Off-Grid Industry
Could remote mines and industrial sites be early customers for beamed power?
- 731 min · Subscribers
Islands, Remote Grids and Disaster Relief
Where else could beamed power command a premium before grid parity?
- 741 min · Subscribers
Hydrogen and Fuels from Space Solar Power
Could space solar power produce hydrogen and synthetic fuels, and at what cost?
- 752 min · Subscribers
Power for Satellites: a Market in Orbit
Could beaming power to other spacecraft be the first commercial market for space power?
- 761 min · Subscribers
Grid Integration and Power Markets
How would a space solar plant connect to a grid and sell its power?
- 772 min · Subscribers
Regulation: Who Licenses a Power Beam?
Which regulators would have to approve space-based solar power, and what would they require?
- 782 min · Subscribers
International Law and Security Concerns
Does international law permit power beaming from orbit, and do security concerns pose an obstacle?
- 792 min · Subscribers
Environmental Effects Beyond Carbon
What environmental effects other than carbon emissions would space solar power have?
- 802 min · Subscribers
Public Acceptance
Would the public accept power beamed from space, and what would shape opinion?
- 811 min · Subscribers
Skills and Workforce
What skills would a space solar power industry need, and are they available?
- 822 min · Subscribers
Scenarios to 2050
How might space-based solar power develop over the next twenty-five years?
Range chart - 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?
- 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 - 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?
- 862 min · Subscribers
What Would Have to Be True
What conditions must all hold for space-based solar power to supply grids competitively?
- 872 min · Subscribers
Common Misconceptions
What do people often get wrong about space solar power, in both directions?
- 881 min · Subscribers
The Case For and Against
Is space-based solar power a serious future energy source or a perennial dream?
- 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?
- 901 min · Subscribers
Lessons from Other Energy Technologies
What can fusion, offshore wind, solar and nuclear teach space solar power?
- 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?
- 922 min · Subscribers
Due-Diligence Checklist
What should a buyer, government or capital provider check before backing a space solar programme?
- 931 min · Subscribers
Implications by Reader
What should each kind of reader do with this study?
- 942 min · Subscribers
Risk Register
What could go wrong for space-based solar power, how likely is it and how much would it matter?
- 952 min · Subscribers
How This Study Connects to the Space Research Programme
How does space solar power depend on the other sectors Setcoin studies?
- 962 min · Subscribers
Signals to Watch
Which events over the next few years will show whether space-based solar power is advancing?
- 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?
- 981 min · Subscribers
Methodology and Sources
How was this study built, and how reliable are its figures?
- 991 min · Subscribers
Appendix A: Programme and Demonstration Reference Table
- 1002 min · Subscribers
Appendix B: Glossary
- 1012 min · Subscribers
Appendix C: Setcoin Reference Data
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Setcoin Atlas · Space & aerospace
The thesis, against the live record
Research and contract activity on public registers, mapped to the bottlenecks this report names.
1,096
awards & contracts on record
1,063
organisations
$9.0bn
awarded (corrected)
171
new in the last 90 days
Awarded value after removing $16.9bn of aircraft and missile awards misfiled under space.
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