Google partners with SunPower for more renewable energy sources

(Credit: Google Official Blog)A home with SunPower solar panels.

Google, Inc. is going solar power and partners with SunPower Corporation. On Tuesday, the company also purchased its biggest renewable energy source; an agreement with Iowa utility partners will provide a wind energy supply for its data centers of up to 407 megawatts.

This enormous new investment is bringing the Mountain View-firm another step towards a future of clean energy. Google and SunPower are together creating a $250 million fund to aid the purchase of solar systems for residential rooftops, making it easier for households in the U.S. to go solar.

Basically, this is how it works: using the $150 million fund from SunPower, and $100 million from Google, the companies will purchase solar panel systems. These systems will then be leased to homeowners, and the cost will typically be lower than their usual electricity bill. For anyone participating in the program, it is not just about helping environment, but also saving money on electric energy consumption.

The endeavor will boost the 2011-launched residential leasing program of SunPower, through which SunPower gained traction in the market of solar rooftop installations. The program additionally gives the firm tax benefits, under the structure Investment Tax Credit, as it aims to promote solar photovoltaic (PV) installations. SunPower has over 20,000 customers who has run this program for 20 years, and plans to add thousands more.

While SunPower gains top-line visibility, internet titan Google has put its commitment to green power to work again. The partnership is Google's 16th investment in renewable energy, and its third in residential rooftop solar.

Residence solar installations is currently a trend, as the market starts to draw more firms away from conventional electric power which usually yields power from natural gas and coal.

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