This one slipped by me until I saw it on eco-geek just now. As their press release says, Google is going to, "develop electricity from renewable energy sources that will be cheaper than electricity produced from coal".

Looks like wind, solar and "advanced geothermal" are likely initial technologies. Google plans to spend hundreds of millions of dollars on this plan, but as eco-geek points out - it's an investment, not charity:

It's important to point out that this, like all of Google's seemingly philanthropic efforts, is an investment scheme, not a giveaway. Google wants to turn its gold into more gold, and investing in these technologies is a fantastic way to do that. That's not to say that they aren't doing a "good" fact, this makes far more sense to me than purely philanthropic efforts.

Sounds good to me? How about you? Want to bet against Google when it comes to technological investment?