The Future of Energy Won't Be Led By Big Oil
It's hard to ignore Big Tech making moves to acquire energy assets to help power data centers and further embrace sustainability. For example Microsoft has been implementing an internal carbon tax in the hopes of becoming more carbon neutral. Plus, the tech giant recently announced moving forward a 20-year agreement for 110-megawatt Texas wind farm to be built next year.
Meanwhile, Google has thus far spent over $1 billion on various renewable projects (solar, wind, kite power, etc.). Apple has applied for a wind technology patent, and it announced last week it was building a new manufacturing plant in Arizona, which will be powered by the sun. Intel is now the #1 annual green power user per kilowatt hour in the whole U.S. Suffice it to say, the tech sector is making moves within the energy space that utility companies need to be watching, especially when it comes to clean power distribution and future energy home management.
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The article The Future of Energy Won't Be Led By Big Oil originally appeared on Fool.com.John Licata has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Apple, Google, and Intel. The Motley Fool owns shares of Apple, Google, Intel, and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.