That's Google's new formula, which means "electricity from renewable energy sources that will be cheaper than electricity produced from coal." When your stock is trading at around $700/share, I suppose you must feel like a master of the universe:
In 2008, Google expects to spend tens of millions on research and development and related investments in renewable energy. As part of its capital planning process, the company also anticipates investing hundreds of millions of dollars in breakthrough renewable energy projects which generate positive returns.
Not exactly sticking to their knitting, but this make sense to some people:
Leave it to Google to try to tackle an industry as seemingly out of their realm as energy. Of course, Google is a massive power consumer, so the connection is easy to make, and the feel-good Google execs haven’t likely felt right about their data center’s contribution to dirty-power generation. But if Google can actually successfully develop clean energy sources that are cheaper than coal and create a business around licensing them (through their investments or their own technology), it would do nothing short of revolutionizing the energy industry. Much like the situation the telecom world is facing with Google’s wireless plans, here’s to the old-world, slow-moving energy industry getting a kickstart from that 20 percent time!
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