Skip to content
Sunday 16 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE
MorningWire

European business, markets and politics

FTSE 100
10,750.11
-0.21%
DAX
26,440.31
+0.53%
CAC 40
8,636.80
-0.16%
STOXX 50
6,539.59
-0.09%
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
More
GermanyFranceBankingAIEnergyFintechPropertyCapital Markets
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
  • DE
Tuesday 13 June 2023 6:00 am  |  Updated:  Tuesday 13 June 2023 6:43 pm

Space-based solar to get an early lift off from the UK

By: Nicholas Earl

Add as a preferred source on Google
Defence secretary Grant Shapps has warned insurance giant Aviva against 'immorally' divesting from defence companies.
Defence secretary Grant Shapps has warned insurance giant Aviva against 'immorally' divesting from defence companies.

Solar panels in space could help meet the UK’s energy needs, with the government poised to announce funding for eight projects centred around wirelessly transmitting energy from the sun back to earth via satellites.

Energy security secretary Grant Shapps is set to unveil £4.3m to finance early-stage development in the nascent industry.

This includes £3.3m from the Department for Energy Security and Net Zero and £1m from the UK Space Agency.

The government’s winning projects include Cambridge University, which will develop ultra-lightweight solar panels for the satellites that can function in the high-radiation conditions of space, and Queen Mary University in London, which is working on a wireless system to enable the solar power collected in space to be transferred to earth.

Shapps will announce the move in a speech at London Tech Week today.

If space-based solar lifts off then satellites could help generate up to 10GW of electricity a year – a quarter of the UK’s power needs, by 2050 according to a study from consultancy Frazer Nash commissioned by the government.

The UK is currently aiming for 70GW of solar energy generation by 2035 – with around 17GW currently generated nationwide.

Read more

Britain faces energy squeeze from solar eclipse

Rows of blue solar panels in a field, generating clean energy, with green trees in the background.

Spaced-based solar power aims to collect energy from the Sun using panels on satellites and beaming it safely back to earth with wireless technology – most likely to a receiving station and then to the national grid.

Earlier this month, scientists at the California Institute of Technology claimed to have achieved a world-first by successfully transmitting solar power to Earth from space.

The technology is in the early stages of development with no timeframe on new satellites, but it has vast potential – providing solar power all year round, as the Sun visible for over 99 per cent of the time in space.

It forecasts that space solar could even create a multi-billion pound industry, with 143,000 jobs across the country.

The UK is among several countries, including Japan and the US weighing up the prospect of space-based solar power.

Secretary of State for Energy Security and Net Zero Grant Shapps said: “I want the UK to boldly go where no country has gone before – boosting our energy security by getting our power directly from space. We’re taking a giant leap by backing the development of this exciting technology and putting the UK at the forefront of this rapidly emerging industry as it prepares for launch.

“By winning this new space race, we can transform the way we power our nation and provide cheaper, cleaner and more secure energy for generations to come.”

Read more

Quinbrook Closes Oversubscribed GBP 587 Million Renewables Impact Fund II

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Energy

Related Topics

  • Energy
  • Green energy
  • renewable energy
  • solar power

Trending Articles

  • Grandparents fund university degrees to avoid inheritance tax net

  • Revolut chatbot goes rogue by charging users to cancel subscription

  • Brompton Bicycle sues former adviser for ‘professional negligence’

  • Revolut takes flight with launch of new airport lounges

  • Is the Zeekr 9X Super Hybrid the new luxury SUV to beat?

More from Morning Wire

  • Britain faces energy squeeze from solar eclipse

    Energy
    Rows of blue solar panels in a field, generating clean energy, with green trees in the background.
  • Quinbrook Closes Oversubscribed GBP 587 Million Renewables Impact Fund II

    Business Wire
  • BP eyes finalising sale of solar arm to Kuwait-backed wealth fund

    Energy
    British Petroleum BP forecourt with fuel pumps and company signage visible in a business setting, highlighting energy serv...
  • Energy operator ‘flying blind’ as net zero push threatens hiked bills and blackouts

    Energy
    Energy prices are high due to a range of factors including volatile gas prices and high net zero levies.
  • ReNew Reports 25.6% Reduction in Scope 1 & 2 Emissions and 24.7 Billion Units of Clean Power Generated in FY 2025-26

    Business Wire
  • KKR to Acquire a 50% Stake in a Portfolio of Developed Renewable Assets from TotalEnergies Across Europe

    Business Wire
  • Ekovolt Welcomes Éric Scotto, Co-Founder of Akuo Energy, as a Shareholder, and Rebrands as Pont Digital Infrastructure

    Business Wire
  • CapVest Completes Acquisition of TSG

    Business Wire
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Business

  • Markets
  • Banking
  • Technology
  • Energy
  • Property
  • Fintech

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook