Google (Nasdaq: GOOG) CEO Eric Schmidt emphatically resisted the notion that he would ever enter politics. Nonetheless, his company yesterday unveiled its plan to wean the United States from burning coal and oil for power by 2030.
According to the Google.org website, the plan also would lead to a 38% reduction in oil consumption by vehicles.
The plan calls for "aggressive end-use electrical energy efficiency measures" and the replacement of all oil and coal electricity generation–and about half of natural gas generation–with renewable sources of electricity.
It also calls for an increase in plug-in vehicles to 90% of new car sales in 2030 and increasing new conventional vehicle fuel efficiency from 31 to 45 miles per gallon (mpg) in 2030.
Although the cost of the Clean Energy 2030 proposal is significant (about $4.4 trillion in undiscounted 2008 dollars), savings are even greater ($5.4 trillion), the company says, returning a net savings of $1.0 trillion over the 22-year life of the plan.
The plan also details numerous public policy and industry actions that must take place to achieve the Clean Energy 2030 proposal, including a long-term national commitment to renewable electricity, adequate electricity transmission capapcity and grid resources, as well as public and private investment in research and development (R&D).
Last month Schmidt prefaced the unveiling of this plan by arguing that clean power generation was a relatively simple math problem, when viewed as the money-saving return on an investment.
Google also announced that it would partner with GE (NYSE: GE) to combine lobbying efforts in Washington D.C. and develop renewable energy initiatives for the electric grid, electric vehicle recharging and other areas.
Read Reuters coverage.
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