Google announces details of $75 million solar panel fund for homeowners
Search engine Google has announced details of a fund in the USA to buy solar panels for 3,000 homeowners.
The fund is being created with a San Francisco company and will allow homeowners to install a $30,000 system for solar electricity, solar heating and solar hot water on their property for little or no money upfront.
Customers will have to pay a monthly fee to Google for having the panels which will either be the same or less than what they are currently paying to their energy supplier, ensuring that they can keep costs low and do their part for the environment.
Google will benefit as, as well as receiving the money from homeowners, they will receive government subsidiaries as the owners of the panels. The panels won’t be Google branded; instead the fund is being offered to small, local installers who will use their own brand on the panels. As well as benefiting homeowners and Google, it will also benefit these smaller installers who would not have been able to afford to offer such subsidised rates on their own.
The company has already dabbled with renewable energy, by investing in wind farms, solar projects and a scheme to build off-shore wind farms off the East Coast of the US, and Google hopes that their involvement will encourage more companies to invest in renewable energy in this form.
By Craig Jones – Google Plus