GE plans another $10B spend on green-tech initiative

GE plans another $10B spend on green-tech initiative

Summary: Mammoth technology company GE released the latest annual report for its ecoimagination initiative, which focused on technologies to help private and public sector organization realize their own sustainability goals. Aside from reporting an amazing $18 billion in revenue last year, the company has pledged to double its research and development budget for the division: spending $10 billion between now and 2015.

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TOPICS: Tech Industry
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Mammoth technology company GE released the latest annual report for its ecoimagination initiative, which focused on technologies to help private and public sector organization realize their own sustainability goals. Aside from reporting an amazing $18 billion in revenue last year, the company has pledged to double its research and development budget for the division: spending $10 billion between now and 2015.

So far, ecoimagination R&D has been in the $5 billion range, since the initiative was launched in 2004. The group has generated something like $70 billion in revenue. This year's goal is $20 billion.

You can read more in my post over at ZDNet sister blog site, SmartPlanet.

Topic: Tech Industry

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  • If it is reliable as their applicances ....

    then we are in for a lot of failures.
    mrlinux
  • RE: GE plans another $10B spend on green-tech initiative

    I'm encouraged to see GE do this. Knowing that GE would never make this kind of capital investment for PR alone, and knowing how profit-driven they have always been as a company, I think a lot of other large companies might see this and decide it's finally time to jump in the game.

    We need to get sustainability and efficiency and alternative energy in place while fossil fuel is still cheap enough to make the transition a smooth one. I think we've already waited too long for the switch to be painless, and it's going to be more and more wrenching the longer we delay - that's true for big companies as well as for little people like me.

    For anyone who's curious about some of the other issues surrounding moving to a sustainable infrastructure, have a look here:

    http://2greenenergy.com/renewable-energy-and-the-job-market/2413/

    My personal pick for the best renewable energy source is tapping into the only truly safe and cheap nuclear reactor known to man - the one we spin around once a year - the sun. I've taken a look at many different options and I've concluded that solar thermal using molten salt wins the day for 24/7/365 clean, safe energy production - it means only minimal carbon output and minimal toxicity to build the infrastructure, and offers rapid scalability, high efficiency and downright common sense.

    Our 2,776 current power plants could be completely replaced by a single line of 100 solar thermal plants across our Sunbelt - each plant only 10.5 miles on a side - transmitting power up and down the nation using high voltage DC and the same power line routes we've already established.

    Here's a little more discussion of that potential:

    http://2greenenergy.com/solar-thermal-leader/2534/
    http://2greenenergy.com/utility-scale/2499/

    I'm not sure that GE would be the best company to back or pursue this, but the fact that they've chosen to put their money where their mouth has long been is definitely signaling a change in the wind.

    Craig Shields, Editor, 2GreenEnergy.com
    Craig Shields