Having gained a certain degree of expertise in developing and designing its own energy efficient data centers, Google thinks it’s in a position to help spur on the adoption of even more renewable energy sources.
The Mountain View company announced on Tuesday a new research and development group whose mandate will be to continue to develop electricity from renewable energy sources much cheaper (and cleaner) than coal. The new initiative, dubbed Renewable Energy Cheaper than Coal, will primarily target energy sources like advanced solar thermal power, wind power technologies and enhanced geothermal, according to Google co-founder Larry Page, and the company plans to shell out tens of millions of dollars in 2008 on R&D and related investments.
Google also said it anticipates investing hundreds of millions of dollars in other renewable energy projects which the company also hopes will generate positive returns.
“Clean and affordable energy is a growing need for our company, and we’re excited about the opportunity to help create competitive green alternatives,” said Page in a Tuesday blog post. “Our new initiative isn’t just about Google’s energy needs; we’re seeking to accelerate the pace at which clean energy technologies are developing, so they can rival the economics of coal quickly.”
For now, Page is banking on solar thermal and wind energy technologies as some of the best bets for providing “a very plausible path to providing renewable energy.” In the vein, Google is working with eSolar, a Pasadena-based company specializing in solar thermal power, and Makani Power, another California company currently developing high-altitude wind energy extraction technologies, to produce energy at an unsubsidized cost below that of coal-fired power plants.
The company says it will be also be looking to hire engineers, and partner with various entrepreneurs and technologists with expertise in a broad range of areas, including: materials science, physics, chemistry, mechanical engineering, electrical engineering, land acquisition and management, power transmission and substations, construction, and (of course) regulatory issues.
Being Google, it’s not just about helping the environment. The company said it also expects the new initiative will be pretty good for its bottom line as well.
In Silicon Valley alone, investment in clean technology shot up from $34 million in the first quarter of 2006 to $290 million in the third quarter, according to an annual report by Joint Venture. Nationwide that year, venture capitalists invested a total of $727 million in 39 alternative energy start-up companies.
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Read More http://www.wired.com/epicenter/2007/11/google-gets-gre/#ixzz0gGjfaLbI
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