Questions to be Addressed_________ The predictions arrived at by the preceding assumptions are not desirable. By breaking at least one of the assumptions, alternative futures can be imagined. The most acceptable assumption to change is likely to relate to new sources of energy. A proposal to provide additional energy to Earth via Solar Power Satellites (SPS's) was presented originally by Peter Glaser [Glaser, 1968] and has been explored by many researchers since then. When such a program is undertaken, however, a number of questions arise which must be answered before large scale solar power can be provided. During the first two weeks of the ISU summer session a number of brainstorming sessions were held to determine what these questions might be. These questions are listed below. 1 Economic/Businss Issues Cost and Economic Viability Does current analysis of the economics of the SSPP program allow for commercial funding? In order to decide on funding sources and other financial issues it is important to know to what degree the SSPP program as a whole is viable as a commercial venture. If the Return On Investment (ROI) is negligible, it is clear that commercial funding will be impossible. If there is some degree of commercial return from the project, combined governmentaVcommercial funding may be possible. It is essential to establish this balance from an analysis of the program at the outset. Subsidiary questions relating to this issue are: Are there space infrastructure projects worth undertaking which would in turn reduce overall program costs and improve ROI (eg. developing own launch service?) What is the impact of an early drop in launch costs arising from other programs? The question then follows: to what extent is government/public finance necessary, and what form should it take? On the basis of the analysis described above, the requirement for government-based funding can be ascertained. The form of government funding undertaken must be determined. For example, it may be possible that governments would be required to underwrite the risk only, or to offer fiscal incentives for commercial participation in the program. Alternatively, governments may be required to provide large scale funds directly. Finance What are the financial sources? Potential contribution from funding sources such as governments, multinational bodies (EEC, UN), private industrial enterprises, and financial institutions is to be determined. The degree to which developing countries are able to fund the program will impact the amount of funding available (both governmental and commercial), and must therefore be determined. What is the method of financing? This includes addressing the balance of debt and equity and the use of financial instruments such as leasing and barter. Should financial advantages be offered to funding sources for an early financial commitment to the program? Incentives that may be offered for an early financial commitment to the program should be considered. The form that these incentives might take relates to management structure issues (see below). What is the cost impact of a ‘juste retour' (fair return) policy on industrial contracts? The cost implications of establishing a ‘juste retour' policy for governmental participation (such as that currently used in ESA) must be addressed, along with the question of how to minimize the potential disadvantages, should such a policy be adopted for political reasons.
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