Google invests $20 million into renewable energy
Alternate energy is the coolest rage today, but not everybody has the capacity to make money out of it. Unless of course you are Google! Google is now planning into the energy business, and as any of its previous ventures its going to do it in a big way. It already has a history of investing in renewable energy, with its Mountain View, Calif. headquarters already being powered, in part, by one of the largest solar electric installations in the United States. It now plans to go big with its philanthropic arm, Google.org, and invest $20 million in the next year alone toward renewable energy research. This will include the cost of hiring between 20 and 30 new employees, including renewable energy experts. Google aims to find a way to significantly reduce the cost of renewable energy generation to bring it more on par with the cost of coal.
Google aims to significantly reduce the cost of generating renewable energy. It plans, for example, to bring the cost of solar power down by 25 to 50 percent. The company’s wider goal is to produce one gigawatt of renewable electric power at a per watt rate lower than that of coal within “years, not decades.” This would be enough electricity to power a city the size of San Francisco.