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satellite power system (SPS) (s) (noun) (no pl)
Concept for providing large amounts of electricity for use on the Earth from one or more satellites in geosynchronous Earth orbit: The satellite power system sends the Sun's energy to a satellite in an orbiting geostatiopn where it is then converted to electric energy and beamed to Earth

A very large array of solar cells on each satellite would provide electricity, which would be converted to microwave energy and beamed to a receiving antenna on the ground. There, it would be reconverted into electricity and distributed the same as any other centrally generated power, through a grid.

This system is also termed Space Solar Power (SSP).