Green technology – good. Job creation – good. The two together – great!

In a significant step toward effectively utilizing green technologies for energy production, President Obama recently announced that the Department of Energy (DOE) will invest nearly $2 billion in two solar energy companies – Abengoa Solar and Abound Solar Manufacturing.

Arizona-based Abengoa Solar will be the largest concentrating solar power in the world when it’s complete. It will produce enough energy to power nearly 70,000 homes! To put that into a green perspective – it means a reduction of 475,000 tons of CO2 annually.

On top of the environmental benefits, building these plants will mean new construction and permanent jobs for more than 5,000 Americans.

Watch the President’s full address on solar energy below:

You can also read more in this story from Mashable.

This investment is a huge leap forward for the U.S. in terms of both environment and economy and we’re happy to see this progress being made.

What are your thoughts on the projects?