It appears that Google is going all-green this upcoming year. The announcement, posted in the Alphabet Inc. owned company’s blog, was written by Google’s Senior Vice President, Urs Hölzle. In his post, Hölzle lays out the ins and outs of the multinational technology company’s plans in everything that has to do with the use of renewable energy in their work process. Google seems to know just where it’s going, and is even ready to share information, and show its competitors what to do sin order to get there as well.
According to Hölzle, Google “began purchasing renewable energy to reduce our carbon footprint and address climate change”, but other than that, “it also makes business sense.” The company was one of the first organizations to go into the business of renewable energy, and is currently the leading world buyer of renewable power. As it turns out from the statistics posted in Hölzle’s blog post, Google has commitment of up to 2.6 gigawatts of wind and solar energy. Just in case you find it difficult to envision how large of a number that truly is, Hölzle makes sure to provide us with an easy-to-grasp example: that’s “more than twice as much as the 1.21 gigawatts it took to send Marty McFly back to the future.” By 2017, the company plans to reach 100% renewable energy for all of its global operations.
This environmentally friendly move by Google is not only good for the reduction of climate change damages; it is also great for business. As Hölzle has reported in his post, during the last six years, prices of wind and solar energy were reduced by 60% and 80%, respectively. These highly significant numbers demonstrate the increasing profitability of the use of renewable energy sources, as electricity prices tend to swing regularly. This is a wonderful way to keep power costs stable for the long run, which sounds like a win-win arrangement, almost too good to be true.
According to BDB analysts, Google has managed to catapult its share price from $144 per share to $776 per share representing a 439% rise in 17 years. This growth rate is double the growth the S&P 500 achieved during the same period. More impressively, however, Google has managed to remain profitable during that period with average earnings per share of $22.
Other than its recent announcement regarding its 2017 across-the-board transition to renewable energy, Google is keeping it green on a daily basis, down to the tiniest details. You may be surprised to find out that Google takes various day-to-day actions to keep itself friendly to the environment, such as the installation of solar panels on the offices’ rooftops, or the operation of a “bike-to-work” program. According to Hölzle, “these initiatives sit at the heart of our company culture and help both us and our users reduce our impact on the environment.”
We’re not sure whether it would be accurate to say that Google tries to pull a Marty McFly of its own, in its attempt to send us all back to the future – since technically, none of us has ever been there, yet. At least, not as far as we know (although Dr. Emmett Brown may beg to differ). However, the future is definitely where this environment-friendly corporate seems to be headed. A lot of environmental goals are yet to be achieved, and the progress is far from being over. But, as Hölzle put it: the recent announcement sure feels like “a breath of fresh air,” for it can, literally, help make the air fresher.
Founded in 1998 as a search-engine, Google has since then developed and expanded into a variety of digital products and services. With Gmail, Google+, Google Drive, and Google Docs, Google has proven itself capable of providing high-quality and engaging services in all the new spheres the technological age has created.Trade GOOGLE