Google Invests $75 Million in solar PV

Google is working to help 3,000 homeowners install solar pv power rooftops

Google has proved its commitment to greener technologies over the past few years through hybrid vehicle initiatives, its investment in the world’s largest wind farm, an investment in the Ivanpah Solar Electric Generating System, and the installation of solar pv panels in its roof in Mountain View, California (which produces 1.6 megawatts of energy).

At the Renewable Energy Finance Forum in San Francisco this week, Google announced that it is investing $75 million toward helping 3,000 homeowners receive solar power. It is building an initial fund with Clean Power Finance in this venture..

According to The Official Google Blog, purchasing solar has been difficult for homeowners up until now because of costs. Solar installers do not always have the capital to provide financing for customers, and they sometimes cannot find resources that can provide financing.

 ”As we said when we made our first residential solar investment, we think it makes a lot of sense to use solar photovoltaic (PV) technology — rooftop solar panels — to generate electricity right where you need it at home,” said Google in its blog. “It greens our energy mix by using existing roof space while avoiding transmission constraints, and it can be cheaper than drawing electricity from the traditional grid.”

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