Why Alphabet Inc (NASDAQ:GOOG)’s Google invested in this nonprofit
Alphabet Inc (NASDAQ:GOOG)’s Google recently invested in Center for Resource Solutions, a nonprofit engaged in renewable energy certification program. Google didn’t disclose how much money it pumped into the nonprofit, but there is no doubt the investment is aimed at boosting Google’s renewable energy profile.
Alphabet Inc (NASDAQ:GOOG)’s Google is looking to convert all its data centers to run on renewable energy within a decade. That has been seen by many as a tough target to beat, but the strategy that the company has adopted of investing in renewable certification programs could make the attainment of that goal a bit easier.
Expanding to Asia
The investment that Google has put in Center for Resource Solutions will enable the nonprofit to expand into Asia. The reason renewable certification program is important in that it enables buyers of renewable energy to know the source of the energy they are buying.
There are already a number of renewable certification organizations in the world, but some of these hold a monopoly in their regions. The effect of that is that transparency in the renewable energy supply chain is limited. Additionally, monopolies make it difficult for companies looking to buy renewable energy in large scale to get what they want.
Initial target is Taiwan
The Center for Resource Solutions, which is based in San Francisco, is the operator of one of North America’s largest renewable energy certification programs. The investment from Alphabet Inc (NASDAQ:GOOG)’s Google will enable the nonprofit to initially expand into Taiwan.
Taiwan is one of the two Asian countries where Google currently operate a data center. Google’s other data center is in Singapore. As for Center for Resource Solutions, entering Taiwan will enable it to test its certification in a small but key market. But in Taiwan, Center for Resource Solutions will be coming to challenge Taipower, the company that currently holds renewable certification in the country.
However, Taipower has largely been seen as a stumbling block by large renewable energy buyers such as Alphabet Inc (NASDAQ:GOOG)’s Google. That explains why Google is helping Centre for Resource Solutions to launch in Taiwan and other global markets where it has interest in renewable energy.
Latest posts by Neha Gupta (see all)
- Is Facebook Inc (NASDAQ:FB) Winning Or Losing In Virtual Reality Space? - May 27, 2016 07:35 AM PST
- No Growth In Costco Wholesale Corporation (NASDAQ:COST)’s 3Q Comps Explained - May 27, 2016 07:34 AM PST
- How Will International Business Machines Corp. (NYSE:IBM)’s Big Data University Help? - May 27, 2016 07:33 AM PST