14 Jan 2014:
Google's Acquisition of Nest
Expected to Boost Smart Grid Expansion
Google's purchase of Nest, a leading manufacturer of smart thermostats, further deepens the Internet search giant's involvement in the green energy sector and is likely to help accelerate development of a more efficient smart grid, experts say
. Google has already invested $300 million in distributed solar companies, which have been helping homeowners install photovoltaic panels to offset their conventional grid-based power consumption. The success of distributed solar hinges on effective smart-metering, and acquiring Nest — whose thermostats can be controlled remotely and can track and reduce energy consumption — could help Google gain valuable insight into millions of individuals' daily power consumption patterns, Quartz reports. As power grids and meters get "smarter," demand for technology like Nest's thermostats will likely grow; incorporating distributed solar energy sources should become easier for households, as well. The $3.2 billion deal will also give Google access to Nest Energy Services, a branch of the company that manages partnerships between Nest and power companies across the U.S.