In a press released issued today, Google announced "a new strategic initiative to develop electricity from renewable energy sources that will be cheaper than electricity produced from coal. The newly created initiative, known as RE
The full announcement can be read at http://www.google.com/intl/en/press/pressrel/20071127_green.html
Google's philanthropic arm, Google.org, "will make strategic investments and grants that demonstrate a path toward producing energy at an unsubsidized cost below that of coal-fired power plants. Google will work with a variety of organizations in the renewable energy field, including companies, R&D laboratories, and universities."