Tech giant Google may expand into the smart grid market by developing software and hardware tools for energy management, Bloomberg reported. The project is spearheaded by Google's Energy Access team, led by Arun Majumdar, vice president of Google's energy unit and former acting undersecretary of energy at the U.S. Department of Energy.
Google recognizes the need for improved smart grid technology to increase the energy efficiency of the grid and accommodate the growing volume of renewables in the market.
Google itself is a major investor in the renewable energy market with the company investing more than $1 billion in wind and solar projects around the world.
During a California-based energy conference, Steven Chu, former secretary of the Department of Energy, said Google may see the energy sector as a significant market opportunity.
So far, Google has filed for patents to manage electricity use.
"Appropriate control of power use over time can compensate for variations in power supply or demand elsewhere in an electrical grid," the patent said, according to Bloomberg. "Further, such control of energy use can improve the stability of the electrical grid."
Source: Penn Energy
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