Google issued a press release stating they want to create a research & development group with the goal of creating “electricity from renewable energy sources that will be cheaper than electricity produced from coal.” The initiative is called “RE<C” and is supposed to be receiving “tens of millions” from Google in 2008. From the release:
“If we meet this goal,” said [Google co-founder Larry 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.”
Coal is the primary power source for many around the world, supplying 40% of the world’s electricity. The greenhouse gases it produces are one of our greatest environmental challenges. Making electricity produced from renewable energy cheaper than coal would be a key part of reducing global greenhouse-gas emissions.
[Thanks DPNeal and Manoj Nahar!]
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