Google Invests 280 Million in Solar Panels for Private Homes
Google, the company with the policy “Don’t be evil,” often does things that are downright saintly. Their most recent angelic action was to invest 280 million into helping home owners install solar panels on their roofs.
Installing solar panels on a rooftop is still financially prohibitive for a lot of people. However, the funds given by Google allow the company SolarCity to put in the panels with no money up front.
It may sound like Google is just giving the stuff away, but they are a business and will get their return on investment through charging SolarCity interest and taking advantage of state and federal tax benefits.
Joel Conkling from Google’s Green Business Operations said about the initiative, “It allows us to put our capital to work in a way that is very important to the founders and to Google, and we found a good business model to support.”
The investment in solar panels brings the tally of Google’s investment in green technology up to 680 million. Google is striving to zero out the company’s carbon footprint by putting money towards wind technology as well as solar.
Via Huffington Post