U.S. Government Pledges $2 Billion For Solar Energy Development

On July 3rd the U.S. President Obama announced that the U.S. Department of Energy will invest nearly 2 billion U.S. dollars to subsidize two companies to build solar power plants to support the development of the U.S. solar industry and increase employment.

Obama said this fund will come from the total 8620 billion of economic stimulus package, Abengoa Solar will receive 1.45 billion U.S. dollars of loan guarantees for construction in Arizona called “Solana” and ” The world’s largest solar power plant “, it is expected to create 1,600 construction jobs; abundant solar energy manufacturing companies will build a solar power plant both in Colorado and Indiana, , expected to create 2,000 construction jobs and more than 1,500 permanent jobs.

“We will continue to compete actively, ensure the future of industrial employment and take root in the United States,” Obama said in a weekly broadcast and network.

According to Abengoa company,  The generated power of “Solana” Solar power plant will be 280 megawatts, can meet electricity 70 000 households demand, can produce electric power worthy four billion U.S. dollars after 30 years of completion. In addition, it can reduce the 475,000 tons of greenhouse gas emissions.