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It's the stuff of science fiction: Solar panels in space that beam power directly to Earth equipping the planet with clean renewable and affordable energy. Yet, it could soon be reality.

Caltech has just received $100 million in funding for their Space Solar Power Project (SSPP). The project is described by Caltech as: "Collecting solar power in space and transmitting the energy wirelessly to Earth through microwaves enables terrestrial power availability unaffected by weather or time of day. Solar power could be continuously available anywhere on earth."

"This ambitious project is a transformative approach to large-scale solar energy harvesting for the Earth that overcomes this intermittency and the need for energy storage," said SSPP researcher Harry Atwater in the Caltech press release on the matter.

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