Google June 14 invested $280 million in a fund to power homes with the sun, courtesy of SolarCity, which provides panels for Intel, eBay and the government, among others.
(NASDAQ:GOOG) continued its clean energy investments June 14 by setting aside
$280 million to power more homes with solar energy.
The company is
creating a fund to help SolarCity
which outfits homes and offices with solar panels that harness heat from the
sun to power buildings, install more solar panels in the U.S.
The funding is
Google's biggest clean power infusion to date and pushes the company's clean
energy spending to more than $680 million.
Google's director of green business operations, said his colleague Michael
Flaster has been using SolarCity panels to power his home since March.
expects to save $100 per month on his energy bills this year, and a whopping
$16,000 over his 15-year lease, factoring in his lease payment and lower energy
which has worked with seven different partners to finance $1.28 billion in
solar projects, covers installation and maintenance of the system over the life
of the lease. Customers may prepay, or pay nothing up-front after which they
make monthly solar lease payments.
homes and offices in Arizona, California, Colorado, the District of Columbia,
Maryland, Massachusetts, New York, New Jersey, Pennsylvania and Texas.
counts thousands of homeowners, more than 75 schools and universities, Intel,
eBay, as well as government agencies such as the U.S. General Services
Administration and the Department of Homeland Security among its customers.
As it does
with so many of its product launches, Google is trying to eat its own dog food
with this solar energy fund; the search-engine giant is partnering with
SolarCity to offer the company's services to Google employees at a discount
"We think 'distributed' renewable energy (generated and used right at home) is a smart
way to use solar photovoltaic (PV) technology to improve our power
system since it helps avoid or alleviate distribution constraints on the
traditional electricity grid," Needham wrote in a blog
massive consumer of energy to power the thousands of computers that fuel its
search and Web services, is a big believer in clean energy innovation and has
been quite busy on the clean energy front.
gained the right to buy and sell power on regulated wholesale markets from the
Federal Energy Regulatory Commission in February 2010, buying
100.8 megawatts of wind energy to power its new data center in Oklahoma in
Google in May invested
$55 million into the Alta Wind Energy Center, which will be able to power
450,000 homes and boost California's wind power generation by 30 percent.
year also invested
$100 million in the Shepherds Flat Wind Farm, and put
$168 million for a solar energy power plant BrightSource Energy is
building in California's Mojave Desert. GigaOm
has a more detailed list of
Google's power spending.