The concept of wirelessly charging satellites in space is moving from science fiction towards potential reality. At the recent Shanghai SNEC exhibition, a major industry event often dubbed the "photovoltaic Spring Festival Gala," the intense focus on new products was accompanied by a compelling new narrative: space-based solar energy, orbital testing, and satellite power. Perovskite technology, once considered niche, has become a hot topic, with perovskite-silicon tandem cells widely viewed as the optimal next-generation technology for this extraterrestrial application.
Concurrently, the formation of the "Space Energy Development Alliance" and the "Space Energy Technology Ecosystem Alliance" was announced. Multiple companies are reportedly accelerating in-orbit testing and commercial development of space-based solar power, with nearly all major industry players involved.
Space-Based Solar Power: A New Hope for a Struggling Industry
The past year remained a period of adjustment for the core photovoltaic materials sector. While some price rebounds occurred, the fundamental performance of listed companies has not significantly improved. Media reports indicate nearly 40% of PV-listed firms are incurring losses, with only a few segments like inverters showing strong profitability.
Industry leaders are shifting their focus from predicting the cycle's end to rethinking the sector's future direction. Discussions now center on new applications and technologies, with a common goal of reconstructing ecological value. GCL Group Chairman Zhu Gongshan stated that the old development model centered on capacity expansion and price competition has reached its physical limit.
After years of price wars, the industry seems to be remembering that photovoltaics originally thrived on technological revolutions. Space-based solar power appears to be returning them to familiar ground. Zhu posits that the second half of the PV industry's paradigm shift involves "borrowing land from the sky" through space energy.
Research from Central China Securities estimates the global space-based solar market could reach approximately 56.9 billion yuan in 2026. With the scaling of low-earth orbit satellite constellations, this figure could grow nearly twentyfold over a decade, presenting another potential trillion-yuan market.
The Musk Catalyst and Market Frenzy
The concept gained significant momentum in early 2026 when Tesla Motors CEO Elon Musk discussed his vision of launching solar-powered AI satellites to maximize solar energy utilization, calling solar power the sole answer to humanity's energy freedom. He subsequently announced a strategic plan to deploy a 100-gigawatt solar AI satellite energy network annually, a scale equivalent to a quarter of the United States' total electricity.
These remarks propelled "space-based solar" to the top of capital market trends. From analyst predictions of a trillion-yuan market to a wave of PV companies announcing their entry, a race in commercial space has begun.
Trina Solar Co.,Ltd. has long-term plans across crystalline silicon, perovskite tandem, and III-V gallium arsenide multi-junction cells. Longi Green Energy Technology Co.,Ltd. revealed a 2022 collaboration with aerospace research institutes to establish a Future Energy Space Laboratory. Hainan Drinda New Energy Technology Co.,Ltd. signed a strategic cooperation with another firm focusing on perovskite cell technology for space energy applications.
The direct market impact has been dramatic. Many PV firms that reported substantial losses last year have seen their stock prices surge, partly catalyzed by news of Musk's team visiting Chinese PV companies. By February 4th, among 98 companies in the Wind PV sector, 20, including several equipment makers, saw their stock prices rise over 50% in a recent period. Within the Wind Space-Based Solar index, 9 out of 19 constituent stocks gained over 30% year-to-date, with Hainan Drinda New Energy Technology Co.,Ltd., Ming Yang Smart Energy Group Limited, and Shenzhen Topraysolar Co.,Ltd. surging 109.3%, 78.5%, and 62.2% respectively.
Commercial Viability: The Ultimate Challenge
For companies still mired in the industry downturn, this represents a high-stakes gamble. "Cost is undoubtedly the most critical factor for commercialization," said Jinko Solar Co.,Ltd. Vice President Qian Jing. While traditional aerospace-grade cells perform excellently, their cost is about a hundred times that of terrestrial monocrystalline silicon cells.
Reports indicate that a hundred-megawatt perovskite pilot line requires an investment of around 300 million yuan. Launching the thousands of tons of equipment needed for a one-gigawatt space-based solar system into orbit could cost tens of billions of dollars, far exceeding the cost of ground-based PV plants.
Amid the market excitement, some within the industry remain cautious. Equipment maker Laplace explicitly stated on an investor platform that space-based solar is still in the technical exploration phase, with its industrialization facing significant uncertainty. Zhejiang Jingsheng Mechanical&Electrical Co.,Ltd. echoed this, stating the application scenario is still in exploration.
Industry consensus suggests the primary short-term application for space-based solar is powering satellites. Other applications, like beaming power back to Earth or powering lunar bases, require supporting industries like commercial spaceflight and wireless power transmission to mature.
A report from China Securities calculated that, optimistically, the levelized cost of electricity for space-based solar could be $2–$3 per kilowatt-hour, compared to $0.03–$0.05 for ground-based PV—a potential hundredfold difference. The report concluded that unless launch costs drop to less than one-tenth of current levels and PV efficiency doubles, space-based solar will struggle to be economical.
The Perovskite Imperative and Strategic Shifts
To bridge this gap, the mass production of perovskite cells has become a critical first hurdle. This "next-generation PV technology" is now under pressure to accelerate due to space-based solar ambitions.
Jinko Solar Co.,Ltd. has stated that mass production of perovskite-silicon tandem cells requires meeting two core conditions: achieving over 30% efficiency for large-area, stably produced modules, and matching the long-term operational stability of silicon cells. Zhu Gongshan noted that breakthroughs have been made in perovskite tandem technology validation, with ongoing progress in engineering reliability, batch manufacturing, and cost optimization. If radiation-resistant packaging is resolved, it could enter space applications within 5–10 years.
The role of PV in this new frontier is fundamentally changing. Industry data shows the power system accounts for 20–30% of a satellite's total manufacturing cost, with the solar array comprising 60–80% of that. This means PV cells determine a satellite's power supply capability and upper limit, transforming them from a simple component to a critical infrastructure element for the space economy.
Clearly, being just a manufacturer of solar "panels" is no longer sufficient. Companies must move beyond the "cheaper" logic of recent years, which necessitates changes in business models and significant organizational restructuring. They recognize that securing a seat at the table in the space energy arena is not guaranteed. After all, perovskite is currently just one potential path among several.
Comments