Google’s latest search: renewable energy

Google is prepared to invest hundreds of millions of dollars in finding cheaper, cleaner alternative energy sources.

Dan Reicher, director of climate and energy initiatives for the company’s philanthropic arm, Google.org, says he has already committed US$20 million ($25.4 million) to funding start-up firms that research and develop solar, thermal and wind power. He is also looking at investing in a firm that creates energy through geothermal systems.
“We arrived at these three technologies because we think they have real promise; number one to move down the cost curve and to be competitive with coal and number two to get to large scale,” says Reicher.

Google said in November it planned to spend hundreds of millions of dollars to help drive the cost of electricity made from renewable sources below the price of power generated from coal-fired plants.

The company has pledged US$10 million to Pasadena, California-based eSolar to support research and development of solar thermal power, which concentrates heat from the sun to create steam and spin turbines. It has invested another US$10 million in Alameda, California-based Makani Power, which is developing high-altitude wind technologies.

NZ Herald