Since the late 1960s, scientists have dreamed of placing solar panels in outer space. By the 1970s, it was already clear that generating solar energy from space was technically feasible. But the real race toward space-based solar power (SBSP) began only recently, driven by the world’s growing need to produce more electricity to meet the accelerating demand for energy.

As electrification expands across industries, artificial intelligence and big data continue to grow, and the deadlines for reducing carbon emissions draw nearer, innovative energy solutions are more urgent than ever. It now seems that space-based solar power is finally ready for its time in the sun.

A New Technology with Limitless Ambition

This emerging technology relies on massive satellites that collect high-density sunlight in space and transmit it to Earth through microwave or laser beams. The energy is then captured by ground-based stations that convert it into electricity for national grids.

A key advantage of this system is its flexibility — satellites can beam energy directly to almost any point on the planet thanks to their wide coverage range.

Clean Energy Around the Clock

The greatest benefit of space-based solar power is that its panels operate above Earth’s atmosphere and weather systems. They are unaffected by day-night cycles or cloud cover, allowing them to capture uninterrupted sunlight 24 hours a day, seven days a week.

This makes them capable of producing vast amounts of clean energy that could transform the global energy landscape.

Europe as the Biggest Potential Beneficiary

According to researchers at King’s College London, space-based solar power could reduce Europe’s dependence on terrestrial renewable sources by up to 80% and cut the need for battery storage by more than two-thirds.

Economically, the study estimates that this system could lower Europe’s total energy system costs by as much as 15%, saving around €35.9 billion ($41.7 billion) annually in generation, storage, and grid infrastructure expenses.

Higher Energy Density, Lower Use of Rare Resources

Thanks to the high energy density of space-based systems, these projects require far fewer materials than conventional solar installations.

A report by the World Economic Forum notes that such systems need dramatically less rare metal to deliver the same continuous energy output as large-scale, storage-based ground systems. The report adds that this approach is more sustainable, easing pressure on natural resources — a challenge the International Energy Agency (IEA) has warned will be critical in the years ahead.

Saving the Earth from Its Space Problem

Another major advantage is that these systems require far less land area than traditional solar farms.

Since the panels are deployed in orbit, the receiving stations on Earth can be relatively small and semi-transparent, allowing dual use in residential, agricultural, or industrial zones. This could help overcome the land scarcity problem faced by large-scale renewable energy projects.

A Global Race Toward the Sun

Awareness of SBSP’s potential has accelerated investment worldwide.

In the United States, the United Kingdom, China, Japan, and across Europe, research institutions are fast-tracking their space-solar programs. The private sector is also joining in: Baiju Bhatt, co-founder of the trading platform Robinhood, launched a startup called Aetherflux last year to develop space-based solar technology.

Funding: The Biggest Hurdle

Despite the growing momentum, SBSP still faces key obstacles before achieving commercial-scale deployment.

The greatest challenge is financing. Private investment typically favors short-term, quick-return startups, while space infrastructure projects require long-term, capital-intensive commitments.

Although the technology promises enormous savings over time, it does not offer investors fast or guaranteed returns.

Betting on Government and Military Support

For that reason, startups in the sector are focusing on securing government contracts as the most realistic way to move space-based solar power from concept to orbit.

Christian Garcia, managing partner at Breakthrough Energy Ventures — one of Aetherflux’s main backers — told CNBC: “We believe the military customer base is large enough and complex enough that if we can serve it successfully, we can build a complete orbital energy system at scale. At that point, we’ll have reduced the cost of the technology enough to expand to other markets.”

In short, space-based solar power may finally be on the verge of becoming a viable clean-energy solution — one that could reshape how humanity powers its future.

Copper prices rose on Friday, extending gains as the US dollar weakened against most major currencies and concerns over supply shortages persisted in global markets.

On Thursday, copper prices surged sharply to reach $11,000 per metric ton — a level not seen in over 16 months — amid widespread mine disruptions that sparked fears of supply deficits and attracted speculative investment inflows.

The benchmark three-month copper contract on the London Metal Exchange (LME) climbed 3.1% to $11,000 per ton, nearing its all-time high of $11,104.50 set in May 2024.

The red metal has now gained more than 21% since the start of 2025, supported by strong global demand, a weaker US dollar, and lower interest rates. A series of incidents at major copper mines — including last month’s mudslide at Indonesia’s Grasberg mine — have also fueled the latest rally.

Alastair Munro, senior metals analyst at brokerage firm Marex, said the market is witnessing “unusual” external investment inflows, adding that “the market doesn’t have much experience dealing with the strength of this type of investment.”

Meanwhile, the US dollar index fell 0.5% to 99.0 at 16:13 GMT, after hitting a high of 99.4 and a low of 98.9.

In US trading, December copper futures rose 0.5% to $5.15 per pound at 16:28 GMT.

Bitcoin prices fell on Friday as traders took profits following the cryptocurrency’s surge to record highs earlier in the week. The decline came as expectations for US interest rate cuts and easing geopolitical tensions had previously boosted appetite for risk assets.

Despite the pullback, Bitcoin is heading for a flat weekly performance after failing to maintain its record levels. The token slipped 0.5% to $121,525.6 at 01:53 a.m. Eastern Time (05:53 GMT).

Limited Weekly Performance... but “Uptober” Still Intact

Even with the slight decline, Bitcoin remains up 6.2% since the start of October, benefiting from the typical seasonal optimism traders call “Uptober.”

Historically, Bitcoin has performed strongly in October — last year it rose about 11% during the month, followed by a massive 37% rally in November after Donald Trump’s victory in the 2024 US presidential election.

The recent dip is mainly attributed to profit-taking after the record highs, alongside lingering doubts about the long-term viability of corporations holding Bitcoin on their balance sheets. Ongoing uncertainty surrounding the US government’s partial shutdown and the future path of interest rates has also capped gains in the crypto market.

Major UK Firm: “Bitcoin Is Not an Investment Asset Class”

This week, Hargreaves Lansdown — the United Kingdom’s largest retail investment platform — said Bitcoin “has no intrinsic value,” despite the UK’s recent regulatory shift toward allowing digital asset investments.

The company’s warning came alongside a decision by the Financial Conduct Authority (FCA) to lift a four-year ban that had prevented retail investors from accessing regulated crypto investment products.

The new rule will soon allow retail investors to purchase Bitcoin and other cryptocurrencies through regulated, exchange-traded investment products — similar to the US approval of spot Bitcoin ETFs launched in early 2024.

Hargreaves Lansdown added that Bitcoin “is not an investment asset class,” explaining that it lacks the characteristics necessary to serve as part of growth or income portfolios.

However, the firm did not rule out offering crypto-related products on its platform in the future, noting that some clients “may wish to speculate in cryptocurrencies” despite the high risks involved.

Oil prices fell on Friday after closing the previous session down about 1.6%, as the market’s risk premium faded following an agreement between Israel and Hamas on the first phase of a plan to end the war in Gaza.

Brent crude futures dropped 66 cents, or 1%, to $64.56 a barrel at 10:16 GMT, while US West Texas Intermediate (WTI) futures fell 61 cents, or 1%, to $60.90 a barrel.

Bjarne Schieldrop, chief commodities analyst at SEB, said, “The presence of a peace process in the Middle East has eased tensions somewhat,” noting that it could help calm concerns over oil tanker transit through the Suez Canal and the Red Sea.

Both Benchmarks Head for Weekly Gains

Israel and Hamas signed a ceasefire agreement on Thursday as part of the first phase of President Donald Trump’s plan to end the Gaza war.

Under the deal, approved by the Israeli government on Friday, fighting will stop and Israeli forces will partially withdraw from Gaza in exchange for Hamas releasing all remaining hostages captured in the attack that sparked the conflict, while Israel will free hundreds of Palestinian prisoners.

Since 2023, Iran-aligned Houthi forces in Yemen have repeatedly attacked vessels they claim are linked to Israel, in what they describe as solidarity with Palestinians during the Gaza war.

On a weekly basis, Brent crude is up roughly 1%, while WTI remains relatively flat so far, after both benchmarks posted sharp declines last week.

Prices had climbed about 1% on Wednesday to reach their highest levels in a week, as investors viewed stalled peace talks over Ukraine as a sign that sanctions on Russia — the world’s second-largest oil exporter — would remain in place.

Focus Shifts Back to Supply Surplus as OPEC Moves Forward

Daniel Hynes, commodities analyst at ANZ, said the ceasefire agreement in Gaza is refocusing the market’s attention on the expected supply surplus, as OPEC proceeds with its gradual unwinding of production cuts.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies in the OPEC+ coalition agreed last Sunday to a modest production increase for November — smaller than markets had anticipated — easing concerns about a potential oversupply.

In a note on Friday, research firm BMI wrote, “Market expectations for a sharp increase in crude supply have not materialized to the extent that would trigger significant price declines,” adding that the latest production rise was milder than previously feared, helping prices edge higher this week.

Eyes on the US Government Shutdown

Investors remain worried that the ongoing US government shutdown could weaken the country’s economy, leading to lower demand for crude oil in the world’s largest consumer.