By Ari Levy
Nov. 27 (Bloomberg) -- Google Inc., whose corporate motto is ``don't be evil,'' created a research group aimed at developing cheaper renewable energy sources, focusing on solar, wind and other alternative forms of power.
Google, owner of the most-used Internet search engine, is hiring engineers and energy experts to lead a development process that may cost hundreds of millions of dollars, the Mountain View, California-based company said today in a statement.
The project, called Renewable Energy Cheaper Than Coal, follows initiatives earlier this year to develop hybrid and electric cars and to maximize the efficiency of its data centers, which account for most of the energy Mountain View, California- based Google consumes.
``We want to apply the same creativity and innovation to the challenge of generating renewable electricity at globally significant scale and produce it cheaper than from coal,'' Larry Page, Google's co-founder, said in the statement.
The goal is to create enough renewable energy to power a city the size of San Francisco for less than it would cost using coal, in ``years, not in decades,'' Page said. Coal accounts for more than 50 percent of all U.S. power and is one of the biggest sources of carbon emissions.
Google rose $5.24 to $671.24 at 11:38 a.m. New York time in Nasdaq Stock Market trading. The shares had gained 45 percent this year before today.
To contact the reporter on this story: Ari Levy in San Francisco at firstname.lastname@example.org .