This segment is from Thursday's edition of 'Digging for Value', in which sector analysts Joel South and Taylor Muckerman discuss energy & materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays & Thursdays. It can also be found on Twitter, along with our extended coverage of the energy & materials sectors @TMFEnergy.
Prior to Google (NASDAQ:GOOGL) purchasing Nest for $3.2 billion dollars, it was already helping the environment by reducing our reliance on energy produced by the likes of coal and natural gas. The company has made several investments in wind power which should be a warning sign to conventional power suppliers might. You see, the more buy-in that renewable energy sources like solar and wind receive, the less traditional utilities will be needed.
Now, add to the fact that Google, and small start-ups like Verdigris, are helping us reduce our overall energy usage, and the top line at major utilities could slowly start to miss out on billions of dollars. For more on our thoughts, check out the short clip below.
Google's off to a fast start in 2014. You could be too with our Top Stock
Joel South has no position in any stocks mentioned. Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Google. The Motley Fool owns shares of Google. 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.