If Google believes that running off renewable energy will help protect their business in the future then this is good for shareholders. Shareholders care about

If Google believes that running off renewable energy will help protect their business in the future then this is good for shareholders. Shareholders care about the future value of stock, so if running off fossil fuels is deemed a business risk and this can mitigate that risk then it is good for the value of the stock. Of course in the short term it might impact the bottom line but so long as the business trajectory is positive and Google's stock continues to be perceived as a good investment then that shouldn't matter. And your issue with the line: "In some places, like Chile, Google said, renewables have at times become cheaper than fossil fuels." Meh, it's PR, take it with a grain of salt and remember this isn't a peer reviewed paper.