There’s a flurry of activity above our heads, and it will be powered, as it has been for more than 70 years, by solar energy. Working in the high-tech solar segment, it’s hard to look past the surge in investment and the scaling of both public and private sector activity in the emerging space industries. The funding really does appear to represent a new opportunity for the solar industry to expand into a high-value market – although its ultimate scale and significance are only beginning to come into focus.
While much of the media attention and discussion has been focused on IPOs and lofty ambitions, an interesting dynamic is emerging among the solar technology providers that are looking to power the growing fleet of satellites and other space-based operations. And what seems really interesting is that, buoyed by strong investor interest, satellite developers, space companies, and specialized solar manufacturers are pursuing new technologies and capabilities that could enable economic activity high above the clouds to scale and thrive.
This heightened level of activity and energy has been evident at three US events in 2026 that Eternal Sun has attended: the Space Power Workshop in Torrance, Los Angeles in April; and in just the past month, the Space Photovoltaics Research and Technology Conference (SPRAT) in Cleveland, and the Small Satellite Conference in Salt Lake City.
All three events have been running for decades, which shows both the longstanding importance of power systems to space operations and the depth of expertise that has developed around them.
When I attended the Space Power Workshop it was clear that there was a strong sense of familiarity among representatives from both the space technology sector and the solar companies with long histories of supplying it. And with the event celebrating its 40th anniversary this year, that shouldn’t really be a surprise. But along with the segment veterans and established players, there was a group of newcomers looking to bring innovative approaches to space operations and power systems.
Many of the established space organizations represented at the Workshop are well known, including the National Aeronautics and Space Administration (NASA), the European Space Agency (ESA), and the nonprofit Aerospace Corporation, which has a history dating back to 1960. Looking to their in-orbit power needs, these organizations often have longstanding relationships with specialized space-solar suppliers, many of which base their PV technologies on III-V semiconductors, including gallium arsenide (GaAs) solar cells.
You don’t need to have a PhD in photovoltaics to understand the benefits of III-V semiconductors. With conversion efficiencies of more than 30% and a strong resistance to the high-energy protons and electrons that are prevalent in high-orbit space, they have long been a no-brainer for space applications.
However, production capacities for III-V solar devices remain quite limited. It was mentioned at the Space Power Workshop suggested that annual production capacity remains below 5 MW and that lead times can be lengthy – a significant constraint on deployment.
Reliable data on the space-solar supply chain remain sparse. As one experienced solar analyst told me that while “space solar is very interesting, it’s at the frontier of our research at present.” But despite this limited visibility it’s clear that activity across the space-solar supply chain is accelerating.
It’s worthwhile to run through some of the recent developments on the business-side of space solar. On May 20, Denver-based York Space Systems announced its acquisition of space-solar developer Solestial for $67 million in cash and stock. Rather than using III-V semiconductors, Solestial produces crystalline-silicon (c-Si) cells and modules for space applications. The company uses ultra-thin, 60-micron c-Si substrates to produce heterojunction cells and modules using low-temperature manufacturing processes. The acquisition follows York Space Systems’ IPO that raised $4.75 billion on the New York Stock Exchange in January.
When looking beyond solar, it’s clear that right across the emerging space sector funds are flowing. The nonprofit Space Foundation reports that in April 2026 alone $28.7 billion in private investment flowed to space enterprises. The foundation notes that while traditional venture capital investors are inking deals, corporate strategic investors like Airbus, Lockheed Martin, and Google are allocating funds to space, along with sovereign wealth funds, pension schemes, and family offices. And satellite constellations are proving particularly attractive to investors, the report says.
Technology evolution
Growing demand for low-Earth orbit (LEO) satellites, including applications such as Starlink, appears to be driving a rethink of space-solar semiconductors. LEO generally extends from approximately 160 km to 2,000 km above Earth. With lower exposure to degradation-inducing radiation than in higher orbits, and generally shorter expected satellite lifetimes, more conventional crystalline-silicon cells may be better suited to this next phase of space industrialization.
Falling launch costs are also making lower-cost c-Si space solar systems more feasible. A PwC space-industry report published in April 2025 notes that while “deploying heavy materials into orbit remains a logistical hurdle,” increased launch frequency and innovations such as reusable rockets could reduce the importance of the power-to-weight ratio for space solar systems. According to the report, LEO launch costs have “fallen steeply” over the past 15 years, reaching approximately $2,000/kg or less.
In what seems to be an acknowledgement of the importance of ongoing space-solar laboratory and manufacturing innovation, the U.S. Department of Energy has launched a $12 million grant opportunity. It’s not only satellites being launched, it seems. Information about the Space Photovoltaic Research and Development Program was published on August 31 and looks to accelerate technical innovation and expand domestic manufacturing capabilities for space solar. The grant process is being managed by TechWerx and is open until October 8.
Just like it is on Earth, perovskite PV is showing enormous promise as a next-generation solar-cell technology for space applications. At the SPRAT conference earlier this month, held at NASA’s Glenn Research Center, perovskite developers featured prominently in the proceedings.
Teams from perovskite developer Swift Solar, and researchers from the University of Rochester, New York, and the University of North Texas delivered presentations at the event – and the Eternal Sun team caught up with perovskite companies Oxford PV and Beyond Silicon during the coffee breaks.
In these discussions it emerged that while space applications may not have been a top priority for PV perovskite research and commercialization in the past, it’s being seen as a significant business opportunity for the perovskite developers today. And for the space companies, efficiencies above 30% at costs far below those of III-V semiconductors represents a tantalizing prospect.
To fulfill that promise, however, perovskite PV must demonstrate long-term durability and reliability. Space companies cannot afford unexpected degradation or device failures after incurring the massive expense of launching them into orbit. It‘s a challenge similar to that facing terrestrial perovskite deployment, but with much higher stakes.
Given the need to thoroughly test and accurately characterize perovskite and c-Si solar cells and modules for space deployment, including tandem devices, it is encouraging to see strong demand for advanced solar simulators from this expanding niche. In December 2025, Eternal Sun revealed that it was actively supplying equipment featuring light-emitting diode (LED) boards pre-calibrated for air mass zero (AM0) testing, enabling the accurate characterization of solar technologies designed for use in space.
The Space Foundation estimates that the global space economy reached $686 billion in 2025, representing annual growth of 12%. The report describes space solar as a “foundational technology” for the continued expansion of orbital operations. As the economy grows and new PV technologies emerge, rigorous product testing, characterization, and validation will be critical to ensuring solar can meet this future industry’s needs. And I think I can speak for the wider Eternal Sun team when I say that we’re proud to play a role in enabling this exciting area of economic development.
About the author
Pepijn Veling has served as the Sales Director at Eternal Sun | WAVELABS since 2019. He is responsible for sales across Europe, India, the Middle-East, and LATAM, and Sales Engineer managing accounts in Latin America and Europe. Previous experience includes positions as New Business Developer at Kimberly-Clark and Innovice, where significant clients included Apple Benelux and Rabobank Utrecht. Pepijn holds a Bachelor of Science in Innovation Management and a Master’s degree in Innovation Science and Management from Utrecht University and additional qualifications in Sustainable Business.
The views and opinions expressed in this article are the author’s own, and do not necessarily reflect those held by pv magazine.
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