From google.org:
Google has a new initiative called RE<C which essentially means “Renewable Energy Cheaper than Coal”. Launched in the fall of 2007, Google intends to spend “tens of millions” of dollars on R&D related to renewable energy, specifically in Solar Thermal, Wind and Geothermal technologies.
The goal is to develop a way to generate 1 Gigawatt of electricity through renewable sources, within years.
Google also recently (nearly) completed the installation of the largest solar panel system on a corporate campus.. see live reports and pictures here: Google solar panels.