From WSJ:

"Google chief executive Eric Schmidt has a simple message: The clean-energy revolution is a money-spinner.

At the WSJ’s ECO:nomics conference in California, Mr. Schmidt was asked how he would respond to Google shareholders who worry the Internet titan is taking its eye off the ball by paying so much attention lately to alternative energy.

“Money we save on energy goes straight to the bottom line. Lower costs mean higher earnings. Green energy done right is more profitable than old energy,” Mr. Schmidt said.
...."

http://blogs.wsj.com/digits/2009/03/05/google-clean-energy-goes-%E2%80%98straight-to-the-bottom-line%E2%80%99/

So, what's your guess about how Google plans to make money from the "smart grid"?