Harvesting of alternative renewable energy resources is considered to be one of the most challenging problems facing the world today. Although significant efforts have been invested in the generation of green energy, they are still deficient due to the multiple technological and environmental uncertainties that continually arise. This study potentially facilitates opening up a new direction in solar energetics, proposing a competitive alternative to solar cells. The project, driven in close collaboration with a variety of the national and foreign research institutions, is aimed at improvement and further prototype tests of a novel, nanofluid-based technology of solar thermal power extraction. The core idea of the method is in the concentration of sunlight on a nanofluid rather than at a continuous dark surface, found in conventional solar generators. In this case, the nanoparticles, dispersed in liquid, are accumulating the sunlight and heating the liquid with greater intensity, acting as a cloud of mobile nano-sized heaters. When the liquid gets to saturation, the steam bubbles nucleate and grow directly at the particles, rather than in a limited space between the micron-sized asperities of the continuous surface (conventional case), enhancing vaporization due to the larger total area of the particle-fluid interphase. The study concerns further optimization of these phenomena to enable commercial implementation. Special attention is paid to the adaptation of the technology for use in northern regions making the project relevant for green energy generation at northern climate conditions.