G oogle, the Internet company with a seemingly limitless source of revenue, plans to get into the business of finding limitless sources of energy.
The project, dubbed Renewable Energy Cheaper Than Coal, is hiring dozens of engineers and targeting investment financing at advanced solar thermal power, wind power, enhanced geothermal systems and other new technologies, Google said.
Some may think that going into areas not related to the core business is bad business… though I will enjoy watching what Google can do in an area that seems to need more help. Solar and wind generation continue to be more costly then buying from your local utility.
Google has allocated 10% of their money toward unrelated projects… this one taking up 3% which equals 500 million.
Just makes me think of Nokia and the rubber boot company they used to be.
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