solar.coolerplanet.com
July 21, 2009
A California solar energy company is reportedly making progress in its effort to generate power from orbiting photovoltaic panels. A recent report by Private Equity Week focuses on Solaren, which is said to have recently raised $600,000 from investors in its space-based energy plan. The report also notes that the public was first introduced to the concept of space-based solar in a 1941 short story by Isaac Asimov.
The company made news earlier this year amid reports that Pacific Gas and Electric had agreed to buy energy generated by the new technology starting around the middle of the next decade. A Los Angeles Times report at the time noted that the plan would cost about $2 billion and could generate enough energy to power 150,000 California homes. In theory, space-based solar could generate a large amount of energy because it would have unfiltered access to the sun, although the technology required to send the energy back to earth is still largely in the development stage.
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