Google is planning to license new sets of mapping data to various companies in order to create products related to renewable energy. The company aims to generate up to $100 million in revenue during the first year, according to CNBC. The new APIs will provide information on solar and energy, air quality, and more. Solar installers like SunRun, Tesla Energy, and Aurora Solar, as well as real estate companies like Zillow and Redfin, are among the potential customers. Google also sees opportunities with hospitality companies like Marriott Bonvoy and utilities like PG&E.
The Solar API will utilize data from Project Sunroof, a solar savings calculator that was launched in 2015. This consumer-focused pilot allows users to enter their address and receive estimated solar costs and installation details. It also offers 3D modeling of roofs and nearby trees using Google Maps data.
Google plans to sell API access to individual building data and aggregated data for entire cities or counties. According to documents, the company has data for over 350 million buildings, a significant increase from the 60 million buildings cited in 2017.
The estimated revenue from Google’s solar APIs for the first year is between $90 and $100 million. There is also potential for integration with Google Cloud products in the future.
In addition to the Solar API, Google is planning to launch an Air Quality API that will provide data on pollutants, health recommendations, and digital heat maps for specific locations. It will also include hourly air quality information and a 30-day air quality history.
This revenue strategy is part of Google’s efforts to monetize its mapping products and capitalize on the growing renewable energy market. While focusing on efficiency, the company is also investing in technologies like generative AI and sustainability.
Google currently licenses its mapping API for navigation to companies like Uber, which paid Google $58 million over three years. Maps API revenue contributes to the profitability of Google’s cloud segment.
Google Maps has been an under-monetized product, but it is expected to generate $11.1 billion in revenue by this year, thanks to new travel products and promoted pins that increase ad revenue, according to Morgan Stanley.
The company is also streamlining its mapping products by combining its traffic-reporting app Waze with the Google Maps team.
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