Satellites need to be reliable 24 hours per day as we, as a civilization, are becoming more and more dependant on them. However, due to solar activity, the space environment can at times be a treacherous place for the satellites themselves as well as for the ground-based technology. This review paper presents the unwanted effects that space environment can have on both space- and ground-based technological systems. Surface and deep dielectric charging, effects on microelectronics, atmospheric drag, effects by micrometeoroids/space debris, problems related to launching/landing, are some of the phenomena that space-based objects can encounter. Aircraft as well as satellite navigation and communication systems, are also vulnerable to the space environment. Effects of solar activity are felt on ground-based technological systems such as electrical power grid systems, oil and gas pipelines, railways and transoceanic cables for telecommunications. For most of the described technological effects presented in this paper, real examples from the literature are given and mitigation techniques are presented.