This startup wants to beam solar energy from space
What's the story
Overview Energy, a start-up company, has come out of stealth mode with an ambitious plan to use the world's solar panels as nighttime collectors of power beamed down from space. The firm plans to harness sunlight using huge solar arrays in geosynchronous orbit, nearly 35,400km above Earth where satellites match the planet's rotation.
Innovative approach
Overview Energy's power transmission strategy
Overview Energy plans to use infrared lasers to transmit the harvested solar energy from space to utility-scale solar farms on Earth. This would enable these farms to supply power to the grid almost round the clock. The start-up has raised $20 million so far, part of which was used for an airborne demonstration of its power beaming technology.
Investor backing
Investors and future plans
The start-up's innovative approach has drawn investment from several organizations, including Aurelia Institute, Earthrise Ventures, Engine Ventures, EQT Foundation, Lowercarbon Capital and Prime Movers Lab. Despite the challenges of space-based power transmission being in its infancy and more expensive than deploying solar panels on Earth, Overview Energy is determined to make this technology a reality.
Market competition
Competition and technological challenges
Other companies like Aetherflux, Emrod, and Orbital Composites/Virtus Solis are also working on space-based power transmission. However, Emrod and Orbital Composites/Virtus Solis use microwave-based systems instead of lasers. These systems are less sensitive to weather conditions but would require building their own ground stations as they can't reuse existing solar farms. Despite these challenges, Overview Energy's strategy of reusing solar farms could alleviate some concerns related to safety and efficiency.
Upcoming launch
Future plans for space-based power transmission
Overview Energy intends to launch a satellite into low Earth orbit by 2028, much lower than the desired altitude of 36,000km. If all goes according to plan, the company hopes to start transmitting megawatts of power from geosynchronous orbit by 2030. This ambitious timeline highlights the start-up's commitment toward making space-based power transmission a reality.