Google has decided to further its green assets. Google has recently invested $75 million in Clean Power Ventures, an eco-friendly company that makes solar panels for households and businesses.
Clean Power Ventures, in the past, licensed its proprietary software to solar panel installers. Clean Power Ventures has now came up with a new (lets call it a) scheme under which it will not only license its software to solar panel installers but will also connect them with investors willing to buy solar panels, like Google.
The announcement that Google has shaken hands with Clean Power Ventures came after the internet giant invested a whooping amount of $280 million in SolarCity. SolarCity is a company which positively helps homeowners and businesses to start using eco-friendly solar energy as an alternate power resource.
In times like today, choosing alternate and Eco-friendly power resources is a win-win decision. Its cheap and friendly to the environment. Google has now reached a huge $850 million in investment in renewable energy. Google indeed cares!
Google Powered Solar Home Grid
This home in Simi Valley, Calif., uses a solar power system owned by Google, operated by Clean Power Finance and installed by American Vision Solar. Image & News Courtesy: MSNBC
So the business deal between Google and Clean Power Ventures works like this. Clean Power Ventures will install solar panels on the roofs of homeowners without giving any ownership rights but with a contract affirmed by the homeowner to buy the generated power. Google can then buy these solar panels from Clean Power Ventures which will then get its share homeowners’ monthly payments.
A good way to run business without the environment paying the entire oppurtunity cost!
