Wednesday, November 28, 2007

Google Energy

Google Invests in Green with Renewable Energy Initiative | Epicenter from  Annotated

The new iative, 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.

Being Google, it's not just about helping the environment. The company said it also expects the new iative will be pretty good for its bottom line as well.

Google´s Goal - Renewable Energy Cheaper Than Coal  Annotated

Depending on how fast Google spends its money, its investment could rival the federal government's investment in renewable energy. A Government Accountability Office report found that Department of Energy spending on research and development of biomass, wind and solar energy sources totaled just $65 million in 2006. (Since this was posted this morning, the folks over at reddit have identified other Department of Energy budget documents that make the GAO estimate seem far too low, with $1.16 billion being appropriated for energy efficiency and renewable energy in 2006, and $1.24 billion requested for 2008.)