Today, Google announced RE<C — think renewable electricity cheaper than coal. To be honest, it is hard to underestimate the importance of actions like these.
The newly created initiative, known as RE<C, will focus initially on advanced solar thermal power, wind power technologies, enhanced geothermal systems and other potential breakthrough technologies.
To achieve this, Google is planning to start $10s of millions in investments in R&D, with the anticipation of $100s of milions of investment in the coming few years.
The target: 1 gigawatt of renewable energy capacity at or below the cost of coal-generated electricity.
Okay, so, this is press release material.
This is enthusiasm speaking.
But, there is a power to the marketplace. And, well, Google has demonstrated an ability to operate in 21st century realities.
From the press release:
“We have gained expertise in designing and building large-scale, energy-intensive facilities by building efficient data centers,” said Larry Page, Google Co-founder and President of Products. “We want to apply the same creativity and innovation to the challenge of generating renewable electricity at globally significant scale, and produce it cheaper than from coal.”
So, Google has been dealing with the challenge of one of today’s greatest energy hogs, the server farms that keep DailyKos (and the net) operating. And, want to apply the lessons.
Page added, “There has been tremendous work already on renewable energy. Technologies have been developed that can mature into industries capable of providing electricity cheaper than coal. Solar thermal technology, for example, provides a very plausible path to providing renewable energy cheaper than coal. We are also very interested in further developing other technologies that have potential to be cost-competitive and green. We are aware of several promising technologies, and believe there are many more out there.”
Concentrated Solar Power is going through major growth, with competitive prices for peak power in higher-cost markets. Could mass production drive these costs below coal? Even without placing a price on pollution “externalities”?
Page continued, “With talented technologists, great partners and significant investments, we hope to rapidly push forward. Our goal is to produce one gigawatt of renewable energy capacity that is cheaper than coal. We are optimistic this can be done in years, not decades.” (One gigawatt can power a city the size of San Francisco.)
Again, that gigawatt target. Note that this hits a mid-sized city’s requirements. Able to do this cheaper than coal provides a pretty serious proof of concept.
“If we meet this goal,” said Page, “and large-scale renewable deployments are cheaper than coal, the world will have the option to meet a substantial portion of electricity needs from renewable sources and significantly reduce carbon emissions. We expect this would be a good business for us as well.”
There are real opportunities to make green by Going Green. Here is an upfront statement by Google. They’re making a bet that they can figure out the cost curves and take a leading position in the renewable energy world. And, by doing so, set themselves up for making even more green by Greening the Globe with renewable energy systems.
“Google: Powering a clean energy revolution”
The vision Google expresses at their green energy page is impressive. Identified there are two of Google’s early bets: eSolar (solar thermal power) and Makani Power Inc (high-altitude wind). Both of these are promising arenas for affordable renewable power.
This is good news.
Will Google help find and fund a critical Silver BB?
News items like this bring out that optimistic side of my being a pessimistic optimist (or, well, was it optimistic pessimist?).