Thursday, September 18, 2008

Now Maybe There's A Chance....

Google teams up with General Electric on grid problems

Google Inc. will work with General Electric Co. to develop electricity grid technology to better support renewable energy alternatives like wind power and hybrid-electric vehicles.
To make real progress in increasing the amount of alternative energy like solar, geothermal and wind power into the electric system, the grid problem needs to be solved, said Jeff Immelt, Chairman and CEO of GE (NYSE: GE).
“There’s going to have to be more capacity if we really want to drive renewable energy to where it could be in this country we need more transmission and distribution,” Immelt said.
Mountain View-based Google (NASDAQ: GOOG) and GE are aiming to enhance an electricity grid by providing new energy technology from GE and the information technology of Google.
Schmidt also said Google and GE will advocate for policy changes in Washington, D.C., to allow grid solutions to be more easily adopted and implemented. In a fact sheet released with the announcement, Google said it will be looking to work with other companies to advance its policy agenda.
With wind power now about cost competitive with power generated by coal-fired power plants at 6 cents or 7 cents per kilowatt, “We’re now getting to the point where you can choose wind over other terrible terrible choices,” said Eric Schmidt, CEO of Google.  MORE....


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