Good as far as it goes.
I'm still to be convinced that CO2 is the problem that it's being made out to be, and not just an excuse to tax us all.
But... assuming for a moment it is, this seems like a good practical step to helping with that.
It makes renewable energy and reducing the expensive peak time capacity needed a little bit easier. And its really good to see someone coming up with an actual step towards the solution rather than just demanding more taxes and laws.
Not sure how much it will help, and I'm not sure it's needed. But I approve of the idea :)