Harnessing the Power of Google (in a completely different way)
Just when you thought that Google couldn’t put its collective finger in anymore pies, they’ve announced that they’re going to invest $75 million in the energy business.
The software company will be offering a deal for up to 3,000 homeowners, in select areas, for financing of rooftop solar energy systems. The homeowners will be able to benefit from the solar systems with no out of pocket investment and just pay a monthly fee to Google’s partner, Clean Power Finance. Estimated savings for these homeowners is up to 10% of their energy fees currently.
Normally, for homeowners interested in going solar, there is a large initial investment to be made for all of the equipment and installation. Sometimes it is hard to get financing for the system, which can cost between $30,000 and $40,000.
The local economy will benefit from this endeavor as well, as local installers will be hired to set up the systems for homeowners in California, Colorado, and Arizona. These locales have been chosen as prime starter areas due to the number of clear sunny days that they tend to experience.
Google has now invested a total of $850 million into alternative energy, including solar energy panels for its own offices, and a variety of solar & wind energy projects.