Google offers a million dollars for more efficient solar inverters

Google is organizing a competition with a prize of one million dollars for the person who can develop a new type of inverter for solar panels. The company announced this at an event for development and innovation in the field of sustainable energy.

With the Little Box Challenge, Google hopes to give innovation in the field of green energy a push in the right direction. The winner will be the one who develops the smallest, cheapest and most efficient inverter. According to Hothardware, a smaller and cheaper inverter makes solar panels affordable for many Americans. Even with subsidies, solar panels would not always be a worthwhile investment.

The company will also invest $1 billion in 16 projects around the world that will boost the use of clean energy. Google would aim to only work with sustainable energy.

The announcement event was hosted by the White House under President Obama’s Recovery Act. In total, about three hundred companies were invited, who have made agreements together to make all US government buildings more energy-efficient. In total, two billion dollars will be invested in it.