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Emerald Group Publishing Limited
Copyright © 2008, Emerald Group Publishing Limited
Google supports renewable energy
Article Type: News From: Management of Environmental Quality: An International Journal, Volume 19, Issue 3.
Google Inc. the Web services and online advertising group plans to spend hundreds of millions of dollars in coming years to promote a new push to encourage cheap renewable electricity. The project, known as Renewable Energy Cheaper than Coal, is hiring engineers and targeted investment financing at advanced solar thermal power, wind power technologies, enhanced geothermal systems and other new technologies, Google said.
Google is, in effect, taking advantage of its growing mountain of cash, global brand recognition and mushrooming market capitalization as a pulpit to campaign for alternative energy. The company’s leaders argue that the time is ripe for investments in innovative research to cut energy costs. Google is seeking to capitalize on the recent excitement among Silicon Valley entrepreneurs to apply the risk taking that computer, biotech and Internet businesses are famous for to the field of alternative energy production.