GE, Google Boost Efforts For Improved Power Grid By _JEFFREY BALL_ (http://online.wsj.com/search/search_center.html?KEYWORDS=JEFFREY+BALL&AR...) , _PAUL GLADER_ (http://online.wsj.com/search/search_center.html?KEYWORDS=PAUL+GLADER&ART... SER=bylineAND) and _JESSICA E. VASCELLARO_ (http://online.wsj.com/search/search_center.html?KEYWORDS=JESSICA+E.+VASCELLA... AND) Wall Street Journal, September 18, 2008.
_General Electric_ (http://online.wsj.com/public/quotes/main.html?symbol=GE) Co. and _Google_ (http://online.wsj.com/public/quotes/main.html?symbol=goog) Inc. said they will jointly ramp up their efforts to prod the U.S. government to upgrade the nation's electrical-transmission lines so that the grid can better accommodate more renewable energy. Both companies sell technology that would benefit from an improved grid. GE has built one of the world's biggest wind-turbine businesses over the past few years, and Google makes computer software it says could help facilitate the introduction of more renewable energy to the U.S. grid. The announcement comes as Congress is considering separate legislation that would open new areas in the U.S. to oil drilling and renew federal tax credits for wind and solar energy that are due to expire at the end of the year. GE Chief Executive Jeffrey Immelt and Google CEO Eric Schmidt called on Congress to continue the renewable-energy tax credits. Wind energy was the second-biggest source of new electrical capacity in the U.S. last year, behind only natural gas, according to the American Wind Energy Association, a trade group. Still, wind power provides only about 1% of total U.S. electricity. Taking into account the benefit of the tax credit, the per-kilowatt-hour cost of wind energy has dropped over the past five years from about 15 cents to about eight cents, Mr. Immelt said, adding: "That makes wind very competitive with coal." But the tax credits have been short term, requiring Congress to renew them frequently. That has led to a boom-and-bust cycle in the wind industry that advocates say has hampered greater growth. Mr. Immelt has largely staked his legacy on GE's clean-energy efforts, a push the company calls "Ecomagination." The company has said revenue from that effort will grow to $25 billion in 2010, up from $6 billion in 2004, with products ranging from hybrid locomotives to wind turbines. Google hopes renewable energy can help it lower the costs of running its data centers, one of its greatest expenses. To that end, the Internet search giant has invested tens of millions of dollars in wind and other renewable-energy technologies. Last year, the company said it would invest hundreds of millions of dollars from its corporate and nonprofit arms in businesses working toward generating cheaper electricity. Beyond the tax credits, Messrs. Immelt and Schmidt said their companies will work together to lobby for government policies to expand the electrical grid to accommodate more renewable energy.
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Google, GE to work together on green energy _By Elise Ackerman, San Jose Mercury News_ (mailto:eackerman@mercurynews.com?subject=San Jose Mercury News: Google, GE to work together on green energy) Article Launched: 09/18/2008 08:02:46 AM PDT
Google and General Electric announced Wednesday that they would work together to push the development of renewable energy. The companies said they would team up to lobby the federal government to modernize the electrical grid and collaborate in the development of technologies for plug-in vehicles and geothermal energy. "We are trying to make renewable energy cheaper than coal energy," Google co-founder Larry Page said at a news conference Wednesday afternoon. The partnership was unveiled at Google's annual Zeitgeist conference, a two-day think-fest where Google's business partners are invited to Mountain View to discuss global issues with leaders such as former vice president Al Gore and Mexican businessman Carlos Slim, as well as celebrities including Leonardo DiCaprio and Forest Whitaker. Against a backdrop of continued financial turmoil, Google's leaders said their business was in good shape and unlikely to experience a direct impact from the current crisis. "The company has a large amount of cash in very boring investments," Chief Executive Eric Schmidt told reporters. As of June 30, Google had $16 billion in cash and securities and other current assets. Schmidt said Google plans to move ahead with a previously announced deal to provide search-advertising services to Yahoo, despite scrutiny by regulators in the United States and Europe. Schmidt said that his company had anticipated there would be objections to the deal, and that it is carefully structured to comply with antitrust regulations. "We have probably not explained it well enough," he said. Advertisers have expressed concern that the pact would lead to an increase in the cost of advertising brokered by Google. Page pointed out that the price of advertising is not set by Yahoo or Google but in an auction where advertisers decide what an ad is worth to them. <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
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