Google announced today that they are working a funding programs that are working toward producing renewable energy at a cost cheaper than coal... and they are hoping to achieve this in years instead of decades.

Google.org, Google's philanthropic arm, calls the initiative RE>C. It will focus on funding research and companies in the advanced solar thermal power, wind power, and geothermal power. The initial focus is set for solar thermal technology. This is no easy task. Coal is currently the most used and cheapest method of power generation, at around $0.02 per kWh. Solar power is still one of the most expensive sources of electricity, at around $0.20 per kWh. Here's a summary of electricity costs from the state of California.

As you can see Solar power has a long way to go before it's as cheap as coal (and other renewable energy sources). Good luck to Google. WE'd all like to see this happen, sooner than later. There's more commentary at TechCrunch.

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