By the mid-2040s, it should be able to deliver about 30GW of continuous clean power straight from space pace. Martin Soltau, Space Business Partner, Frazer-Nash Consultancy, Co-Chair Space Energy Initiative, told Express.co.uk that this could “provide 30 percent of the UK’s (greatly increased) electricity demand“.
As well as helping to slash the UK’s dependence on fossil fuels as the Government tries to race to net-zero by 2050, Mr. Soltau also said space-based solar power (SBSP) could be a highly profitable endeavor, which also has the potential to create thousands of jobs.
He said: “Once in operation, the high yield, low cost of electricity and its favourable characteristics providing both baseload and flexible generation, will make SBSP a highly profitable revenue source for the operating companies, and offering the potential of a healthy return to investors, including the Government.
“At least 143,000 job-years will be supported by a UK-based SBSP system, the equivalent of 5,700 high value jobs over a 25 year period.
“Additionally there are strong spill-over benefits in technology such as Wireless Power Transmission, autonomous assembly robotic systems, driving new industries and opportunities.”