You read that right. The California legislature recently approved a plan put forth by PG&E to purchase power from an orbiting solar panel satellite that will transmit the power back to Earth via radio transmittable energy.
From the article:
Solaren anticipates that their panels will generate 1,700 gigawatt-hours of energy per year (roughly equal to the annual consumption of 250,000 average homes) throughout the 15-year contract term made with PG&E. While an experimental project such as this seems far flung for California’s Renewables Portfolio Standard program, the agreement was approved because it remains consistent with the state’s objective of increasing its reliance on a diverse supply of renewable energy resources and of supporting renewable technologies. It should be noted that there will be no risk to PG&E, and in turn California customers, as the company is simply agreeing to purchase the power at a certain rate, if and when the project is ever up and running.
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