Space-Based Solar Power Market Size

The global space-based solar power market was valued at USD 3.1 billion in 2024 and is estimated to grow at a CAGR of 7.9% from 2025 to 2034.

The rising need for sustainable and reliable clean energy solutions is creating interest in Space-Based Solar Power (SBSP). Countries worldwide are working to reduce their reliance on fossil fuels and tackle climate change, making SBSP an attractive option due to its ability to generate power continuously, regardless of weather conditions. The global push to meet energy needs while protecting the environment has led to improvements in space-based solar technologies. By generating large amounts of energy from space, SBSP can help the world shift toward renewable energy and ensure reliable power for future generations. Recent progress in space exploration and energy transmission methods has made SBSP more practical as a key driver of growth in the renewable energy market.

For instance, in April 2023, the European Space Agency (ESA) began exploring space-based solar power by awarding two contracts for concept studies. These studies will examine how to build commercial solar power plants in space through ESA's SOLARIS initiative. The goal is to determine if collecting solar energy in space can provide clean energy for use on Earth.

Space-Based Solar Power (SBSP) continues to advance as a solution for meeting global energy needs. Recent progress in space technology, wireless power transmission, and energy storage has moved SBSP from research papers to real-world testing. The industry now aims to build commercial solar farms in space that can send clean, uninterrupted power to Earth without being affected by weather or time of day. Governments, private companies, and research organizations are working together to make the technology more affordable, efficient, and technically viable. In the future, SBSP could help ensure a reliable energy supply, reduce environmental impact, and support the world's shift toward sustainable energy.