The European Space Agency's (ESA) has floated the proposal for the development of Europe’s first space-based solar power system.
ESA is an intergovernmental conglomerate of 22 member states.
The solar power system is planned to be constructed in 2025, however the decision will be taken in November.
"It will be up to Europe, ESA, and its Member States to push the envelope of technology to solve one of the most pressing problems for people on Earth of this generation, Josef Aschbacher, director general of the Space Agency, commented.
According to him, Europe is considering developing space-based solar power to boost its energy independence and lower greenhouse gas emissions.
Currently, Europe consumes around 3,000 Terawatt hours (TWh) of electricity annually.
As per the authority, “satellites in orbit far above the Earth's atmosphere collect solar energy and convert it into current; this energy is then beamed back to Earth via microwaves, where it is captured by photovoltaic cells or antennas and converted into electricity for residential or industrial use.”