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Current Investment in Solar Power

In July 2010, U.S. President Obama announced a $1.85 billion loan program for two solar companies, Abound Solar Manufacturing and Abengoa Solar. This initiative aims to generate clean energy for 70,000 homes and significantly reduce carbon emissions. Conversely, the U.K. saw a drastic 70% decrease in solar energy investments last year, contrary to the global trend of increasing investments in renewable energy. Understanding these contrasting approaches highlights the varying commitment levels to solar energy among nations.

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Current Investment in Solar Power

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  1. Current Investment in Solar Power • U.S.- President Obama invested an $1.85 billion in loan funding to two solar companies, Abound Solar Manufacturing, and Abengoa Solar, in July of 2010. Abengoa will be able to supply clean energy to 70,000 homes and remove around 475,000 tons of carbon dioxide. Abound Solar Manufacturing is set in Indiana and is planned to start running by 2012. This is a large improvement because in 2008 solar energy accounted for just 1% of the energy in the US • U.K.- The United Kingdom's inestment in solar energy dropped by 70% last year. This was the exact opposite of the popular trend as most countries started to invest more in solar energy.

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