Many people think of Google Inc. as just a search company, but now it can add renewable energy investor to its resume. Google is all about changing the world in a positive way, according to CEO Eric Schmidt, who has proposed a plan to help provide the world with renewable energy.
Google plans to put clean energy at the heart of the U.S. energy mix, promoting energy efficiency, a massive renewable-energy push to replace coal, and an accelerated rollout of plug-in cars.
The plan sets a target date of 2030 to get Power Companies and Utilities totally off carbon fuels, currently the most common power source, by calling for heavy increases in wind and solar power, with wind power being the closest thing to a free substitute for coal. Unfortunately, most populated areas are temperate and not very windy, so part of the challenge is finding the correct grid technology to bring energy to customers.
Google plans on investing $3.5 trillion in the project over the next 22 years, but expects to generate a cost basis savings of $4.4 trillion based on the right assumptions and investments.
Read more in this Wall Street Journal interview with Google CEO Eric Schmidt.
