Today, Google announced RE<C
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.
To achieve this, Google is planning to start $10s of millions in investments in R&D, with the anticipation of $100s of millions of investment in the coming few years.
The target: 1 gigawatt of renewable energy capacity at or below the cost of coal-generated electricity. Their initial targets are solar, wind, and "advanced geothermal," and we're glad to hear they didn't leave that last one out. Geothermal has the potential to be entirely uninterrupted with an small footprint (unlike wind and solar) and new technologies are making geothermal more viable in more areas.
But, to start with, a wind and a solar firm have been identified as Google's early bets: eSolar (solar thermal power) and Makani Power Inc (high-altitude wind). Both of these are promising arenas for affordable renewable power. Solar thermal is already approaching the price of coal (if land prices can be kept down,) and high altitude wind provides a possibility for perpetual wind power at low-low prices.
It's important to point out that this, like all of Google's seemingly philanthropic efforts, is an investment scheme, not a giveaway. Google wants to turn its gold into more gold, and investing in these technologies is a fantastic way to do that. That's not to say that they aren't doing a "good" thing...in fact, this makes far more sense to me than purely philanthropic efforts.
If you just can't get enough of this news (as I can't seem to) check out the full press release after the jump.
Google's Goal: Renewable Energy Cheaper than Coal
Creates renewable energy R&D group and supports breakthrough technologies
Mountain View, Calif. (November 27, 2007) – 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
"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."
Page added, "There has been tremendous work already on renewable energy. Technologies have been developed that can mature into industries capable of providing electricity cheaper than coal. Solar thermal technology, for example, provides a very plausible path to providing renewable energy cheaper than coal. We are also very interested in further developing other technologies that have potential to be cost-competitive and green. We are aware of several promising technologies, and believe there are many more out there."
Page continued, "With talented technologists, great partners and significant investments, we hope to rapidly push forward. Our goal is to produce one gigawatt of renewable energy capacity that is cheaper than coal. We are optimistic this can be done in years, not decades." (One gigawatt can power a city the size of San Francisco.)
"If we meet this goal," said Page, "and large-scale renewable deployments are cheaper than coal, the world will have the option to meet a substantial portion of electricity needs from renewable sources and significantly reduce carbon emissions. We expect this would be a good business for us as well."
Coal is the primary power source for many around the world, supplying 40% of the world's electricity. The greenhouse gases it produces are one of our greatest environmental challenges. Making electricity produced from renewable energy cheaper than coal would be a key part of reducing global greenhouse-gas emissions.
"Cheap renewable energy is not only critical for the environment but also vital for economic development in many places where there is limited affordable energy of any kind," added Sergey Brin, Google Co-founder and President of Technology.
Strategic Investments and Grants
"Lots of groups are doing great work trying to produce inexpensive renewable energy. We want to add something that moves these efforts toward even cheaper technologies a bit more quickly. Usual investment criteria may not deliver the super low-cost, clean, renewable energy soon enough to avoid the worst effects of climate change," said Dr. Larry Brilliant, Executive Director of Google.org, Google's philanthropic arm, "Google.org's hope is that by funding research on promising technologies, investing in promising new companies, and doing a lot of R&D ourselves, we may help spark a green electricity revolution that will deliver breakthrough technologies priced lower than coal."
Working with RE
- eSolar Inc., a Pasadena, CA-based company specializing in solar thermal power which replaces the fuel in a traditional power plant with heat produced from solar energy. eSolar's technology has great potential to produce utility-scale power cheaper than coal. For more information, please visit http://www.google.com/corporate
- Makani Power Inc., an Alameda, CA-based company developing high-altitude wind energy extraction technologies aimed at harnessing the most powerful wind resources. High-altitude wind energy has the potential to satisfy a significant portion of current global electricity needs. For more information on Makani Power, please visit http://www.google.com/corporate
Today's announcement represents just the latest steps in Google's commitment to a clean and green energy future.
Google has been working hard on energy efficiency and making its business environmentally sustainable. Last spring the company announced its intention to be carbon neutral for 2007, and is on track to meet that goal. To this end, the company has taken concrete steps to reduce its carbon footprint and accelerate improvements in green technology, including:
- Developing cutting-edge energy efficiency technology to power and cool its data centers in the U.S. and around the world.
- Generating electricity for its Mountain View campus from a 1.6 Megawatt corporate solar panel installation, one of the largest in the U.S.
- Accelerating development and adoption of plug-in vehicles through the RechargeIT initiative, including a $10 million request for investment proposals (http://www.google.org/recharge/ )
- Joining with other industry leaders in 2007 to form the Climate Savers Computing Initiative, a consortium that advocates the design and use of more energy-efficient computers and servers (http://www.climatesaverscomputi
- Working on policies that encourage renewable energy development and deployment, such as a U.S. Renewable Energy Standard, through Google.org.
For more information on Google's commitment to a clean energy future, see http://www.google.com/renewable
For broadcast-standard video and other multimedia files for the announcement, see http://www.google.com/intl/en
For more information on recruitment for RE
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