SAN MATEO (KCBS) — Google is making a big investment in renewable energy, by putting up millions of dollars to help homeowners put solar panels on their roofs.

It’s a new partnership between the world’s largest search company, and one of the nation’s largest installers of solar panels, San Mateo based Solar City.

In a video released by Google, the company’s Director of Green Business Operations, Rick Needham, said this is their largest investment to date in renewable energy projects, most of which have focused on large scale clean power.

KCBS’ Matt Bigler Reports:

“This is an investment that makes it easier for consumers and their own employees to lower their energy bills while shifting to clean renewable energy for their own homes,” he said.

Essentially, Google is acting as the bank, putting up the cash to fund solar leases while earning an undisclosed return on the investment. Jonathan Bass with Solar City said they hope other corporations will follow Google’s lead.

“It creates jobs,” he said. “We’ve hired over 600 people in the last 12 months, and it’s positive for the environment.”

(© 2011 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)


Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Watch & Listen LIVE