President Obama has announced that the US will provide nearly $2 billion in loan guarantees to two large solar companies -- Abengoa Solar and Abound Solar -- in a bid to boost clean energy development and, hopefully, create thousands of new jobs. He said that he hopes the investment will help the United States create a bigger "clean energy economy" and lead to the creation of hundreds of thousands of solar energy-based jobs in the near future.According to the President:
"We're going to keep competing aggressively to make sure the jobs and industries of the future are taking root right here in America."The $1.85 billion in loan money will come out of the $862 billion economic stimulus package already in place. Experts believe that the announcement is a reaction to the recent bad news showing that private industry is not creating nearly as many new jobs as expected and that the US economy continues to falter greatly.
Learn some mo': Solar power funding will create jobs, Obama says
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