DUBLIN, April 7, 2016 /PRNewswire/ --
Technology giant Google has revealed its providing seed funding to help companies in Asia buy their energy from clean sources. Google's funding will be used to set up renewable energy certification programs through the Center for Resource Solutions, starting in Taiwan. Taiwan has set extensive targets for renewable energy and plans to source 16% of energy from renewable energy sources by 2030, as noted in a report available from Research and Markets, hence why Google has chosen the country as its starting point.
The push to set up energy certification programs in Asia is part of a bigger global move for Google to power its data centers using renewable energy. Google's long term plan is to use renewable energy to provide power to all its operations across the world. In December it was announced that Google had completed deals to purchase output from power plants in Sweden, Chile and U.S., giving it contracts for 2 gigawatts of global renewable energy. The amount of funding provided for the certificate programs was not revealed.
The Asia Pacific wind energy market is set to grow at a CAGR of 12.13% by 2020, as forecast in an industry report. Similarly, the Asia Pacific solar energy market is expected to grow at a CAGR of 14.42% by 2020, as noted in a separate market report. The high growth of the renewable energy markets in Asia gives Google a strong chance to ensure its renewable energy certificate programs are successful, and will also hopefully convince other tech industry leaders to follow suit and create their own renewable energy initiatives.
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SOURCE Research and Markets