Just as Google’s CEO Eric Schmidt hinted over the past few months,Google is moving from managing the world’s information to managing yourpersonal energy data. On Monday night Google tells us it is developingan online tool called “PowerMeter”that will allow users to monitor their home energy consumption. For nowGoogle is testing the web-based software with Google employees, but thesearch engine giant is looking to partner with utilities and smartenergy device makers and will eventually roll out the tool to consumers.

It’s not such a big stretch — Google has clearly been eager to moveinto helping manage energy consumption — announcing a partnership withGE for smart grid technology last year — and will be able to use itslong history of developing consumer facing services to streamline theinterface. So how does it work? Google’s PowerMeter will take theenergy consumption information provided by a smart electricity meterand display the energy info on the users iGoogle home page. Yep, onlyresidents with a smart meter will be able to get the most out of thetool — so good thing President Obama is calling for another 40 million smart meters installed using funds from the stimulus program.

We’ve actually been hearing a lot about Google’s energy managementplans over the past few months, largely from startups that are buildingcompetitive products. We’ve heard that Google’s tool is based on a moreopen source model, which could really shake up energy softwaredevelopers that are building more proprietary tools. Incumbent smartmeter companies are already concerned over an emphasison Internet Protocol-based smart meter standards in the stimuluspackage. Google’s tool is free, and its foray into smart meter softwarewill likely just ratchet that up a notch.

But with Google’s history of organizing the world’s information, howcould it resist the most important data of our time — energy data,which through smart organization could be used to help fight climatechange? And as opposed to its $45 million investments in otherenergy-related startups and its plug-in vehicle project, energy datamanagement could actually be one of the only places where Google plansto generate revenues. Schmidt said during a speech last year that thereis an internal debate going on at the company as to how much of itsenergy initiatives will turn into real revenues, but that, “[T]o thedegree that we can be in the information businesses or communicationsbusinesses about energy and its impact on the world, we are clearlygoing to be there.”

Schmidt went on to say: “It seems obvious to me that if you give[energy] information to end users they behave smartly . . . So we areworking on that.” As Google said in its web preview of PowerMeter:

Google believes consumers have a right to detailedinformation about their home energy use. After all, real-time energyinformation helps people make smarter choices so they can save energyand money. Studies show that people save 5-15% of their energy costswhen they have access to information about their energy consumption.

Ultimately PowerMeter could be the most important contribution Google makes to fighting climate change.