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Google invests $1 billion, in its plan for 100% renewable energy

Google wants to run on 100% renewable energy  Here are 3 reasons the company may want clean and sustainable power sources.MSN Money, By The Week 16 Nov 13.This week, Google (GOOG -0.16%) announced in a blog post a new $80 million investment in solar energy in California and Arizona, bringing its total investments in renewable energy since 2010 to over $1 billion.

It’s just the latest step in an ongoing project by Google to keep at the forefront of the green energy industry.

In an interview with the Guardian earlier this year, Rick Needham, Google’s director of energy and sustainability, explained Google’s shift into the renewable energy industry:

“When Google thinks about sustainability, one of the big areas that we think about is energy because that’s fundamentally a core piece of what drives our company. We think what can we do as a company to make sure we’re operating sustainably and the ways we can enable a more sustainable world. We ask what can we do to get us to a place where clean energy is an option for everyone.” [The Guardian]…….

First, energy independence. Large corporations like Google prefer predictability, and energy input costs today are not really very predictable at all. The costs of raw materials like coal and oil vary depending on market conditions, and can be completely cut off or severely strained in the case of a war or natural disaster. If you’re generating energy from your own facilities, there is no such unpredictability or risk.

Second, getting into the renewable energy business has great synergy with Google’s current products. Small, powerful solar cells could be built into all kinds of devices to yield reliable, cheap power from any location. Imagine an Android phone, tablet, or Google Glass eyepiece that can be charged by sunlight. By 2020, it is estimated that there will be more than 75 billion internet-connected devices — weather monitors, medical monitors, cars, alarm clocks, 3-D printers — forming the so-called “Internet of things.” Solar technology will enable such devices to be powered simply and wirelessly.

Third, disrupting the current energy industry. The global energy industry is a $5 trillion-a-yearbusiness. Solar energy prices have fallen drastically over the last 40 years, from $76.67 per watt in 1977 to as low as 50 cents per watt in 2013. If the 40-year trend continues, solar will be cheaper than coal in less than 10 years time. When that occurs, the global energy market will readjust in an orgy of creative destruction. When renewables are cheaper than fossil fuels, the leaders in the renewable energy market will reap massive rewards in global energy market share. By being at the vanguard of the renewable energy revolution, Google could position itself as a next-generation energy titan……. http://money.msn.com/investing/post–google-says-it-wants-to-run-on-100percent-renewable-energy

November 16, 2013 - Posted by Christina Macpherson | 2 WORLD, renewable