Obama Announces $2bn Boost to US Solar Power

5 July 2010 (Last Updated July 5th, 2010 18:30)

The US Government is handing out grants worth $2bn for new solar plants to increase their use of renewable energy sources and create new jobs. President Barack Obama said the funding is part of his plan to bring new industries to the US, announcing the initiative in his weekly radio and

The US Government is handing out grants worth $2bn for new solar plants to increase their use of renewable energy sources and create new jobs.

President Barack Obama said the funding is part of his plan to bring new industries to the US, announcing the initiative in his weekly radio and online address.

Two firms set to receive funds from the president's $862bn economic stimulus are Abengoa Solar, which will build one of the world's largest solar plants in Arizona, and Abound Solar Manufacturing, which is building plants in Colorado and Indiana.

"We're going to keep competing aggressively to make sure the jobs and industries of the future are taking root right here in America," Obama said.