Tuesday, May 13, 2025
  • Dashboard
  • Login
  • Registration
  • Contact us
quantann
No Result
View All Result
quantann
No Result
View All Result
quantann
No Result
View All Result

Google to sell maps data to companies building solar products

August 29, 2023
in Business
Reading Time: 4 mins read
0
0
Home Business
Share on FacebookShare on Twitter

[ad_1]

A screenshot of Project Sunroof shows the map data offered by the pilot project, which is meant to help consumers plan solar installations for their homes.

Screenshot

Google is planning to license new sets of mapping data to a range of companies to use as they build products around renewable energy, and is hoping generate up to $100 million in its first year, CNBC has learned.

The company plans to sell access to new APIs (application programming interfaces) with solar and energy information and air quality, according to materials viewed by CNBC.

Among the new offerings will be a Solar API, which could be used by solar installers like SunRun and Tesla Energy and solar design companies like Aurora Solar, according to a list of example customers viewed by CNBC. Google also sees customer opportunities with real estate companies like Zillow, Redfin, hospitality companies like Marriott Bonvoy, and utilities like PG&E.

Some of the data from the Solar API will come from a consumer-focused pilot called Project Sunroof, a solar savings calculator that originally launched in 2015. The program allows users to enter their address and to receive estimated solar costs such as electric bill savings and the size of the solar installation they’ll need. It also offers 3D modeling of the roofs of buildings and nearby trees based on Google Maps data.

Google plans to sell API access to individual building data, as well as aggregated data for all buildings in a particular city or county, one document states. The company says it has data for over 350 million buildings, according to documents, up significantly from the 60 million buildings it cited for Project Sunroof in 2017.

One internal document estimates the company’s solar APIs will generate revenue between $90 and $100 million in the first year after launch. There’s also a potential to connect with Google Cloud products down the line, documents state.

As part of the planned launch, the company is also planning to announce an Air Quality API that will let customers request air quality data, such as pollutants and health-based recommendations for specific locations. It’ll also include digital heat maps of the data and hourly air quality information, as well as air quality history of up to 30 days.

Google did not immediately respond to a request for comment.

The latest revenue play comes as the company has been trying to monetize its maps products as it faces pressure to produce revenue amid a broader economic slowdown. While the company is focusing on becoming more efficient, it’s also been investing in newer technologies like generative AI and sustainability — a market it hopes to take advantage of with the Solar API.

The company currently licenses its mapping API for navigation to companies like Uber, which said in 2019 it paid Google $58 million over there years. Maps API revenue goes toward the company’s cloud segment, which finally turned profitable in the first quarter but has had a rocky path toward trying to compete with market leaders Amazon and Microsoft.

Google doesn’t break out how much its Maps business makes, but it has historically been one of Google’s most under-monetized products, Morgan Stanley analyst Brian Nowak told CNBC in 2021. At the time, Morgan Stanley had estimated Google Maps would earn $11.1 billion by this year as new travel products and promoted pins began to increase ad revenue.

The move also comes as the company attempts to streamline its mapping products. In June, CNBC found the company was laying off employees at traffic-reporting app Waze, which it acquired in 2013, and combining it with the Google Maps team.

[ad_2]

Source link

Tags: BuildingCompaniesdataGooglemapsproductssellsolar
Previous Post

Best Buy gains after posting better-than-feared Q2 earnings report

Next Post

Oil Industry Elite Hits Singapore to Debate Crude’s Next Twist

Related Posts

edit post
Expect a stock market pullback in early 2024 for these 4 reasons, Fundstrat says
Business

Expect a stock market pullback in early 2024 for these 4 reasons, Fundstrat says

by Quantann
December 30, 2023
edit post
The INX Digital Company discloses cybersecurity incident (OTCMKTS:INXDF)
Business

The INX Digital Company discloses cybersecurity incident (OTCMKTS:INXDF)

by Quantann
December 30, 2023
edit post
AvalonBay Communities: Why We Chose This Residential REIT Over Its Peers (NYSE:AVB)
Business

AvalonBay Communities: Why We Chose This Residential REIT Over Its Peers (NYSE:AVB)

by Quantann
December 30, 2023
edit post
Earthquake Today: 6.3 magnitude quake hits Indonesia, no tsunami alert issued
Business

Earthquake Today: 6.3 magnitude quake hits Indonesia, no tsunami alert issued

by Quantann
December 30, 2023
edit post
Inflows to reverse repo facility surge, hitting .018 trillion By Reuters
Business

Inflows to reverse repo facility surge, hitting $1.018 trillion By Reuters

by Quantann
December 29, 2023
Next Post
edit post
Oil Industry Elite Hits Singapore to Debate Crude’s Next Twist

Oil Industry Elite Hits Singapore to Debate Crude’s Next Twist

edit post
Carvana, CarMax should be in the driver’s seat as used car shortages persist (NYSE:CVNA)

Carvana, CarMax should be in the driver's seat as used car shortages persist (NYSE:CVNA)

edit post
Bitcoin Price History Rings Bell as BTC Nears Halving By U.Today

Bitcoin Price History Rings Bell as BTC Nears Halving By U.Today

  • Trending
  • Comments
  • Latest
edit post
Credit Card Market Share — 2023 Analysis & Data on Processors

Credit Card Market Share — 2023 Analysis & Data on Processors

March 8, 2023
edit post
Alpha Spread Review – How Does This Platform Compare?

Alpha Spread Review – How Does This Platform Compare?

February 4, 2023
edit post
Why Gold Is Still The Best Money

Why Gold Is Still The Best Money

January 9, 2023
edit post
Evaluating Oil & Gas Stocks: A Comprehensive Guide for Energy Investors

Evaluating Oil & Gas Stocks: A Comprehensive Guide for Energy Investors

July 25, 2024
edit post
Understanding the Dynamics of Energy Commodities: A Comprehensive Analysis

Understanding the Dynamics of Energy Commodities: A Comprehensive Analysis

July 19, 2024
edit post
FDX Earnings: FedEx Corporation reports higher Q4 revenue and adj. profit

FDX Earnings: FedEx Corporation reports higher Q4 revenue and adj. profit

June 26, 2024
Facebook Twitter Instagram Youtube RSS
quantann

Get the latest news and follow the coverage of Financial News, Stocks, Analysis, Trading Updates and more from the top trusted sources.

No Result
View All Result

CATEGORIES

  • Blog
  • Business
  • Commodities
  • Cryptocurrency
  • Investing
  • Markets
  • Personal Finance
  • Trading

SITE MAP

  • About Me
  • Contact us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Terms and Conditions
  • Cookie Privacy Policy

Copyright © 2022 Quantann.
Quantann s not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Business
  • Markets
  • Commodities
  • Cryptocurrency
  • Personal Finance
  • Trading
  • Blog
  • About Me
  • Analytics Dashboard
  • Login

Copyright © 2022 Quantann.
Quantann s not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In