Despite the buzz surrounding the new Google Glass technology, the device will not debut anytime soon and it is going to cost a bit of money, according to CNET.

"It's fair to say that thousands of these will be in use by developers over the next months, and then based on their feedback we will make some product changes, and it's probably a year-ish away," Google Executive Chairman Eric Schmidt said in an interview with BBC News.

Chief Executive Officer Larry Page addressed the price of the new eyewear—which is currently listed at $1,500.

"The price tag was set for developers for early test. We don't have news to announce there. I'm not sure I would call it a luxury price, but it's a pretty high price," he said.

Google Glass is revolutionary technology, coming in the form of a pair of glasses that allows you to take a picture, ask Google a question, record a video and much more— all with the sound of your voice. The glasses can also become compatible with an android phone, running on Andriod 4.0.3 and higher, with the MyGlass app.

"The fact of the matter is we'll have to develop some new social etiquette. It's obviously not appropriate to wear these glasses in situations where recording is not correct, and indeed you have this problem already with phones," Schmidt said. "Companies like Google have a very important responsibility to keep your information safe. You have responsibility as well to understand what you are doing and how you are doing it and obey appropriately and also keep everything up to date."

While the technology is still being tested, one company has already banned the eyewear. A bar in Seattle has said the eyewear is not welcome because of its ability to invade people’s privacy unknowingly. (For example, one can take a video of a person without them knowing.)

"It is still very early days for Glass, and we expect that as with other new technologies, such as cell phones, behaviors and social norms will develop over time,” said a Google spokesperson.