Google announced yesterday a new initiative to develop electricity from renewable energy sources that will be cheaper than electricity produced from coal. The new initiative is known as RE<C (renewable energy cheaper than coal). The energy sources are planned to come from solar thermal power, wind power technologies, enhanced geothermal systems and other potential breakthrough technologies.

The goal of the project is to produce one gigawattt of power within “years, not decades,” as explained by Larry Page, Google Co-founder and President of Products. One gigawatt can power a city the size of San Francisco.

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Other contenders for the purchase include Microsoft, AOL, and Google. DoubleClick is a digital media company that owns the affiliate marketing company, Performics. Google just seems to have a desire to seriously enter the affiliate marketing industry. They have already begun something similar to an ad network that uses a pay-per-action model.