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This is new ground. It always takes more to develop the technology initially than it does in production. Once the technologies have been developed and refined the costs of space solar should come down considerably. Not to mention the added benefits that always come from advanced R&D efforts.

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This is akin to companies that claim you should judge them by their EBITDA on an ongoing basis, as if capital expenses aren't real expenses.

To justify the capital cost, it isn't enough to show that you'll make something cheaper than it is now. The capital investment needs to produce technology that is so much cheaper that it can outcompete other options and still provide a return on the capital that exceeds the opportunity cost of tying up the resources. If you can't expect this, then the endeavor is a net misuse of resources.

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