The search engine giant Google (google.com) announced yesterday that it will spend $500 million (or 3 percent of its cash holdings) on developing inexpensive energy alternatives to coal. The goal is to lower the costs of solar, geothermal and wind energy to produce 1 gigawatt of energy at costs that are lower than coal. Google says that it aims to accomplish this task in 10 years and is optimistic that it will take even less time than that.
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