Obama Shines Light on Solar with $2B Investment

In his weekly address on Saturday, President Obama announced the Department of Energy will loan almost $2 billion to two solar energy companies: Abengoa Solar and Abound Solar Manufacturing . The loans will go towards developing solar energy plants. With the funding, Abengoa will build a solar plant in Arizona that can power 70,000 homes. When completed in 2013, the plant will be one of the largest in the world. It will also store part of the energy it produces, becoming the first plant in the U.S. to do so.