Space solar energy expected to heat by 2029

Total investment in such energy – defined as transmitting solar energy collected in space for terrestrial applications – will rise again to $36.1 billion by 2035, a market analyst estimates.

It emphasizes that the increase in spending by space providers and agencies will be mainly driven by the demand for renewable baseload energy (the minimum amount of energy required to be fed into the grid).

The report is titled “Future Opportunities for Solar Energy in Space: 2024-2035” and covers an area that has not yet proven to be viable, but in which governments and businesses are showing increasing interest.

Juniper Research predicts that to keep pace with future demand, global net electricity production must exceed 43,000 TWh in 2035.

Base load

“Space solar energy addresses the issue of variability in ground-based renewable energy sources and therefore concerns about meeting baseload power thresholds,” writes analyst Alex Webb. “By collecting solar energy in space, space-based solar energy systems
can operate at base load 24 hours a day, 365 days a year; ensuring electricity demand is met while meeting net zero targets.”

“Moreover, GEO orbit receives more than 100 times the energy needed to meet global electricity demand in 2050, meaning space solar power is not only more reliable than terrestrial sources, but also has the capacity to meet global electricity demand. “

Space solar energy

The report’s dataset includes 5,000 market statistics over a period of 11 years, Juniper claims, and the report includes detailed forecasts for 12 countries as well as market analysis.

In particular, it covers wireless energy transmission in space, solar energy satellite design (CASSEOPeiA, SPS ALPHA, Tethered SPS) and autonomous distributed space systems, as well as suppliers from Airbus to Virtus Solis.

More information about the study can be found online.

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