Google Announces Goal Of "Renewable Energy Cheaper Than Coal"; Creates Renewable Energy R&D Group
Google 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 Renewable Energy Cheaper Than Coal, will focus initially on advanced solar thermal power, wind power technologies, enhanced geothermal systems and other potential breakthrough technologies.
Renewable Energy Cheaper Than Coal 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. 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."
Working with Renewable Energy Cheaper Than Coal, Google.org will make strategic investments and grants that demonstrate a path toward producing energy at an unsubsidized cost below that of coal-fired power plants. Google will work with a variety of organizations in the renewable energy field, including companies, R&D laboratories, and universities. For example, Google.org is working with two companies that have promising scalable energy technologies.
eSolar Inc., a company specializing in solar thermal power which replaces the fuel in a traditional power plant with heat produced from solar energy. eSolar’s technology is described as having great potential to produce utility-scale power cheaper than coal.
Makani Power Inc. a company developing high-altitude wind energy extraction technologies aimed at harnessing the most powerful wind resources. High-altitude wind energy is said to have the potential to satisfy a significant portion of current global electricity needs.