Google continues to invest in renewable energy both in the corporate Google and through google.org. Google already has Solar power at its Mountain View headquarters. The latest act by Google to invest in EGS or Enhanced Geothermal Systems which expands the potential of geothermal energy by orders of magnitude. Following is the Press release.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--In the continuing effort to develop electricity from renewable energy cheaper than from coal, Google (NASDAQ:GOOG), through its philanthropic arm Google.org, announced $10.25 million in investments in a breakthrough energy technology called Enhanced Geothermal Systems (EGS). Today's announcement also includes funding for research on next-generation geothermal resource mapping, EGS information tools, and a policy agenda for geothermal energy.
EGS expands the potential of geothermal energy by orders of magnitude. The traditional geothermal approach relies on finding naturally occurring pockets of steam and hot water. The EGS process, by comparison, replicates these conditions by fracturing hot rock, circulating water through the system, and using the resulting steam to produce electricity in a conventional turbine.
A recent MIT report on EGS estimates that just 2% of the heat below the continental United States between 3 and 10 kilometers, depths within the range of current drilling technology, is more than 2,500 times the country's total annual energy use.
"EGS could be the 'killer app' of the energy world. It has the potential to deliver vast quantities of power 24/7 and be captured nearly anywhere on the planet. And it would be a perfect complement to intermittent sources like solar and wind," said Dan Reicher, Director of Climate and Energy Initiatives for Google.org.
Google's Renewable Energy Cheaper than Coal initiative focuses on solar thermal power, advanced wind, EGS and other potential breakthrough technologies. Google has set a goal to produce one gigawatt of renewable energy capacity, enough to power a city the size of San Francisco, in years, not decades.
To advance EGS, Google.org announced funding for two companies and a university:
- AltaRock Energy, Inc.: $6.25 million investment to develop innovative technologies to achieve significant cost reductions and improved performance in EGS projects. For more information, please visit http://www.altarockenergy.com/.
- Potter Drilling, Inc.: $4 million investment in two tranches, to develop new approaches to lower the cost and expand the range of deep hard rock drilling, a critical element to large-scale deployment of EGS. For more information, please visit http://www.potterdrilling.com/.
- Southern Methodist University Geothermal Lab: $489,521 grant to improve understanding of the size and distribution of geothermal energy resources and to update geothermal mapping of North America. For more information, please visit http://www.smu.edu/geothermal/.
"Innovation is the path to massive quantities of cleaner, cheaper energy. The people we're funding today have a real shot at lowering the cost of EGS, and bringing us closer to our goal of Renewable Energy Cheaper than Coal," added Dr. Larry Brilliant, executive director of Google.org.
"EGS is critical to the clean electricity revolution we need to solve the climate crisis, but EGS hasn't received the attention it merits. That's why we're pressing for expanded support from government and increased investment from the private sector," said Reicher. "We're big believers in EGS and we're looking for more opportunities."
Ongoing Commitments
Today's announcement represents the latest step in Google's commitment to a clean energy future.
Google has been working hard on energy efficiency and making its business environmentally sustainable. To this end, the company has taken concrete steps to reduce its carbon footprint and accelerate improvements in green technology, including:
- Developing cutting-edge energy efficiency technology to power and cool its data centers in the U.S. and around the world using 50% less energy than the industry standard
- Generating electricity for its Mountain View campus from a 1.6 megawatt corporate solar panel installation, one of the largest in the U.S.
- Accelerating development and adoption of plug-in electric vehicles through the RechargeIT initiative (http://www.google.org/recharge/)
- Joining with other industry leaders to form the Climate Savers Computing Initiative, a consortium that advocates the design and use of more energy-efficient computers and servers (http://www.climatesaverscomputing.org/)
- Working on policies that encourage renewable energy development and deployment, such as a U.S. Renewable Energy Standard.
For more information on EGS, including a 3-D model of a project in Australia, a Google Earth layer, an introductory YouTube video, and our policy brief, see http://www.google.org/egs/.
For more information on the Renewable Energy Cheaper than Coal initiative, including $30 million in investments to advance solar thermal and advanced wind technologies, see http://www.google.org/rec.html.
For broadcast-standard video and other multimedia files for the announcement, see http://www.thenewsmarket.com/google.
For more information on Google's commitment to a clean energy future, see http://www.google.com/renewableenergy.
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