Balloons pitched to plug power shortage

Giant solar energy balloons floating high in the air may be a cheap way to provide electricity to areas lacking the land and infrastructure needed for traditional power systems, researchers in Israel say.

The world is racing to find renewable energy sources to replace fossil fuels, and entrepreneurs are scrambling for a slice of a clean energy market that analysts estimate was worth nearly $150 billion last year.

Edison International's Southern California Edison utility has announced plans to build the largest photovoltaic solar system in the United States at 250 megawatts, enough for 162,000 homes.