From the article: The European Space Agency (ESA) is set to approve a three-year study to determine whether sending huge solar farms into space could effectively meet the world's energy demands, a report from the BBC reveals.

A space-based solar power plant would be launched into a geostationary orbit, meaning it would orbit in a fixed location over the Earth that would be hit by the Sun 24/7.

So, if all goes to plan, the technology could one day harvest massive amounts of energy from space — enough to power millions of homes.

The ESA's space-based solar power initiative is called Solaris, and it is one of several similar projects worldwide, including ongoing research by China's Xidian University, which has built a 75-meter-tall (246-feet-tall) steel tower to test the technology for a ground receiving station, and Caltech's Space Solar Power Project.

Research ministers at the ESA's triennial council are expected to meet today, Tuesday, November 22, to discuss the ESA'S idea. They will also consider several other proposals before deciding the budget for the next phase of the space agency's space technology development plans.

In an interview with the BBC, ESA director general Josef Aschbacher said, "we do need to convert into carbon neutral economies and therefore change the way we produce energy and especially reduce the fossil fuel part of our energy production. If you can do it from space, and I'm saying if we could, because we are not there yet, this would be absolutely fantastic because it would solve a lot of problems."