Google can easily become another power supplier, not only because of Google's investment in the energy sector, but also the company's $3.2 billion acquisition of the smart thermostat manufacturer Nest.
Google has invested in energy-related areas, including home solar company SunPower, Panhandle 2 wind farm, and Elon Musk's company SolarCity. Google has invested more than $1 billion in wind and solar projects.
At the same time, Google's acquisition of Nest "makes many executives in the home industry feel like they are in the throat," said Adrian Tuck, chief executive of energy services company Tendril Networks. He said that the acquisition of Nest could provide Google with a back door to the home industry, and the industry agreed that competition in the power industry will focus on the home sector in the next five years.
After the acquisition of Nest, Google can use its smart energy-saving thermostats and smoke detectors to launch a large number of services related to sales demand response, even if Google wants to compete directly with some of the companies involved in the investment. Demand response is a service for homeowners to help them save energy and expenses. Nest has established demand response projects with a number of power companies, using the Nest thermostat platform to manage peak hours of electricity.
The power savings from the demand response project can be re-sold by the provider to the electricity market for profit, or returned to the company itself. By 2030, demand response projects can reduce electricity demand during peak hours in the United States by 10%, creating a $3.5 billion market.
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