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Electric power generation and conditioning have experienced revolutionary development over the past two decades. Furthermore, new materials such as high energy magnets and high temperature superconductors are either available or on the horizon. Our work is based on the promise that new technologies are an important driver of new power system concepts and architectures. This observation is born out by the historical evolution of power systems both in terrestrial and aerospace applications. This paper will introduce new approaches to designing space power systems by using several new technologies.