Eco-Living Magazine

Google Invests Big in the Green Energy Revolution

Posted on the 03 October 2011 by 2ndgreenrevolution @2ndgreenrev
Google Invests Big in the Green Energy RevolutionLast week, Google announced a $75 million “initial investment” in San Francisco-based Clean Power Financethat will help as many as 3,000 homeowners secure financing for solar installations. Google stated the move “makes business sense” and will help accelerate residential solar installations. It also will bring its total investment in the development and deployment of clean energy to over $850 million.Even with government subsidies and tax credits, the cost of a residential solar array is often too high for most homeowners. For instance, if Google’s investment reaches 3,000 residences, that equals a price of $25,000 per home. Moreover, solar installers can’t always provide customers with financing options due to lack of capital, and the highly fragmented solar market makes it difficult for outside lenders to enter the marketplace.Fortunately, Clean Power Finance has developed an open platform that addresses these issues. It works by connecting solar installers (who sign up to gain access to customers) with investors like Google, thus giving customers better access to financing.

Essentially, Google purchases solar arrays for homeowners (while retaining ownership), the installer builds it on the homeowner’s roof, and homeowners agree to buy back power generated from the solar panels at a fixed monthly rate (which would often be lower than their former grid rate). Maintenance, monitoring, billing and operations are taken care of by Clean Power Finance and its network of installers.

According to the Wall Street Journal, residential solar installations can be profitable in states like California and New Jersey, which have incentives for solar power generation as well as higher electricity rates. And as one article points out, this fits in nicely with Google’s 6th core principle: “You can make money without doing evil.”


You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • On a Beautiful Summer Day

    Beautiful Summer

    Read more

    9 hours, 35 minutes ago by   Vickilane
  • Russell’s Reserve Whiskey Review

    Russell’s Reserve Whiskey Review

    This single cask of Wild Turkey Whiskey was selected by PlumpJack in San Franciso and, like all RR SiB releases, bottled at 55% ABV (110 proof). Read more

    11 hours, 54 minutes ago by   Josh Peters
  • Russell’s Reserve Bourbon Whiskey Review

    Russell’s Reserve Bourbon Whiskey Review

    Do you love whiskey? Do you love bourbon? Do you love Wild Turkey? If you answered yes to all of those questions then you’d probably love a glass of Russell’s... Read more

    12 hours ago by   Josh Peters
  • FFS Friday - Soulless

    This week it has come to my attention that Tiger is trying to kill me. He's a clever man so he's not doing it by traditional means, he's doing it slowly via... Read more

    13 hours, 21 minutes ago by   Glossqueen
  • Take the Shot: Captain Morgan Apple Smash for National Rum Day

    Take Shot: Captain Morgan Apple Smash National

    They say "An apple a day keeps the doctor away." We wonder what a shot of apple rum will do! Just in time for National Rum Day, every's favorite rum captain... Read more

    13 hours, 26 minutes ago by   Glasgow Skinner/ My Life On And Off The Guest List
  • Book Club for Menopause Goddesses

    Book Club Menopause Goddesses

    Today's post highlights two wonderful books that should live on every Menopause Goddess's bookshelf. From Dinner Date to Soulmate by Cynthia Spillman and Come... Read more

    15 hours, 21 minutes ago by   Lynettesheppard
  • Stone Fruit Tea Cake

    Stone Fruit Cake

    (recipe adapted from Table for 2) Ingredients:1 Tbsp butter (for greasing pan)150g Blue Jacket Cake Flour½ tsp baking powder80g fine sugar 80g Cowhead salted... Read more

    15 hours, 35 minutes ago by   Cathysjoy

Paperblog Hot Topics