Google invests $75 million in solar energy project

Google has announced at the San Francisco Renewable Energy Finance Forum a new project to finance the implementation of solar energy in the US. The fund involves the investment of 75 million dollars (55 million euros) to create a fund with Clean Power Finance, which will help 3,000 people to run their homes with solar energy.

Google Green Business COO Rick Needham finds "a lot of sense" about using solar PV to generate electricity in homes. "It's a green technology that takes advantage of free rooftop space, avoids transmission restrictions, and can be cheaper than other energy sources," needham says.

Acquiring a solar system is a major home improvement, but the initial investment, Google explains, has always been one of the biggest obstacles for homeowners. "For investors like Google, banks or others, it can be difficult to break into a fragmented solar market with many companies, and connect with homeowners," the company argues.

Clean Power Finance has developed an open platform that connects installers with investors like Google to provide financing to homeowners. This allows system installers to sell more and grow their businesses. The installer builds the solar system, which will be owned by the investor (in this case Google), and the owners pay a monthly fee at a cheaper price.

"Owned by Google, operated by Clean Power Finance, and installed by American Solar Vision, the Colin family of Santa Clarita, California, features a 4.14 kW solar system," the company says.

Among the tasks it carries out to Google, its projects to finance clean energy are known, a work to which the company has already dedicated 850 million dollars (623 million euros).

These types of projects can serve to accelerate the process of cost reduction to accelerate the implementation of alternative energies such as solar, a clean and inexhaustible source of energy.

Google explains that it already installed a 1.6 MW solar panel in 2007 at its Mountain View headquarters, Googleplex. Now, through investment in clean energy and its previous investments, Google hopes to experience "an even greater impact." "We hope our funds will help more than 10,000 homeowners generate clean electricity from the sun." (EUROPA PRESS)

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