Google's Goal: Renewable Energy Cheaper than Coal - Creates renewable energy R&D group and supports breakthrough technologies
Excerpt from Google Press Release:
"Google (NASDAQ: GOOG) today announced a new strategic initiative to develop electricity from renewable energy sources that will be cheaper than electricity produced from coal. The newly created initiative, known as RE C, will focus initially on advanced solar thermal power, wind power technologies, enhanced geothermal systems and other potential breakthrough technologies. RE C is hiring engineers and energy experts to lead its research and development work, which will begin with a significant effort on solar thermal technology, and will also investigate enhanced geothermal systems and other areas. In 2008, Google expects to spend tens of millions on research and development and related investments in renewable energy. As part of its capital planning process, the company also anticipates investing hundreds of millions of dollars in breakthrough renewable energy projects which generate positive returns.
"We have gained expertise in designing and building large-scale, energy-intensive facilities by building efficient data centers," said Larry Page, Google Co-founder and President of Products. "We want to apply the same creativity and innovation to the challenge of generating renewable electricity at globally significant scale, and produce it cheaper than from coal."
(link to Google Press release at end of post).
Industry Reaction:
Towards more renewable energy - Official Google Blog
Posted by Larry Page, Co-Founder and President of Products
Google launches major alternative energy initiative - VentureBeat
http://venturebeat.com/2007/11/27/google-launches-major-energy-initiative/
Google's Energy Initiative - O'Reilly Radar
Link to Google Press Release:
http://www.google.com/intl/en/press/pressrel/20071127_green.html
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