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Obama supports US Solar Industry with a $2 Billion Investment


President Obama has announced that two of America’s most established solar companies are set to receive up to $2 billion in loan guarantees in order to further expand the US solar industry.

Abengoa Solar and Abound Solar Manufacturing will receive the funds requested in order to promote their investment projects which would have a major impact on the way solar energy is used in the US.

Abengoa Solar plans to construct the largest solar power plant in the world in Arizona, capable of powering 70,000 homes and drastically cutting CO2 emissions.

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Known as the Solana project, Abengoa Solar’s Arizona plant has a projected area of 1,900 acres. By using thermal storage-equipped parabolic trough technology, it would have a power output of 280MW. It would also create 1,500 new jobs during the site’s construction, with 100 staff positions remaining for its operation.

Abound Solar Manufacturing, on the other hand, would puts its money into state-of-the-art thin film solar panels, making it the first time the technology has been used commercially. Investment in Abound would see plants built in Colorado and Indiana, creating 2,000 construction jobs and 1,500 permanent jobs.

President Obama’s green credentials have long been established, despite him greenlighting offshore drilling, and in recent months he has tried to follow through on his election promises of creating manufacturing and construction jobs in the green power industry.

Via Inhabitat

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