Just a few years ago, investing in solar technology or sustainable energy was considered risky and even weird. These days oil prices are reaching high levels due to global conflicts. The ungreen nature of fossil fuels, as well as the carbon emissions they produce, means that it may not be a clean and sustainable source of energy.
Nuclear power is still seen as an alternative option to fossil fuels, but the recent tragedy in Japan that caused the nuclear plant to melt down has called into question the safety of this. Nuclear power has a legacy of needing to handle nuclear waste that often has to be buried for years and years, so it has its own problems as a power source.
The search engine, Google, continues to increase its purchase of companies outside its main brand by investing in solar energy. Company co-founders Sergey Brin and Larry Page (along with his brother Carl Page) have invested in an organization called Nanosolar, which focuses primarily on thin-film solar cells. This innovative solar product could be a reason behind an investment due to future potential.
Thin-film solar cells may be less capable of harvesting the sun’s energy than traditional solar cells. There is a much greater possibility for this type of solar panel because these solar cells can be printed in a variety of different materials starting from plastic sheets, which can then be seamlessly integrated into roofs, walls and other surfaces. Thus, more surface can be covered. Traditional solar cells are as decorative as a satellite dish.
Google has made an initial investment of close to 5 million dollars in the German solar park. It is about developing a completely new solar installation in the vicinity of Berlin, Germany. The solar power park has dimensions of around 116 acres and will become one of the largest in Germany generating around 16.65 megawatts of energy, enough to power around 5,000 homes.
Google will invest nearly $170 million in a large new solar power plant in the Mojave Desert. The solar planet type is innovative and is called BrightSource Energy. Its Ivanpah solar power generation system uses a series of mirrors to reflect the sun’s energy onto a solar tower. The electricity generated by the three plants is enough to power more than 140,000 homes in California during peak hours of the day.
Committing to solar panel technology is an unusual step for Google. Its major acquisitions in the past tend to be more dovetailed with the online markets in which it operates and may include highly talked about sites such as YouTube, com. Could this be one of the first signs of Google flexing its corporate muscle and investing for ethical reasons, or building a business empire that relies less on online technologies and advertising?