In his weekly address to the nation, President Obama today announced that — in the name of bringing “jobs back to the country” — the Department of Energy has awarded $2 billion dollars to two energy companies.
Abengoa Solar and Abound Solar Manufacturing will use the money to create some of the world’s most advanced and largest solar panels and plants, the president said.
In all, though, the billions are expected to buy just 5,000 jobs, meaning that each position will likely end up costing the federal government upwards of $392,000 per job. Of those 5,000 jobs, the majority are expected to be temporary positions in fields like construction.
Observers — including blogger Ed Morrissey — have pointed out that, even if the employees were taxed heavily and their jobs generated significant tax revenue, the president’s initiative would likely not pay for itself for over fifty years.
During his address to the nation weeks after the explosion at the Deepwater Horizon oil rig, the president made a push for clean energy and discussed its importance in the wake of the disaster.
READ THE FULL TEXT OF OBAMA’S ADDRESS
This week, I spent some time in Racine, Wis., talking with folks who are doing their best to cope with the aftermath of a brutal recession.
And while I was there, a young woman asked me a question I hear all the time: “What are we doing as a nation to bring jobs back to this country?”
Well, on Friday, we learned that after 22 straight months of job loss, our economy has now created jobs in the private sector for 6 months in a row. That’s a positive sign.But the truth is, the recession from which we’re emerging has left us in a hole that’s about 8 million jobs deep. And as I’ve said from the day I took office, it’s going to take months, even years, to dig our way out – and it’s going to require an all-hands-on-deck effort.
In the short term, we’re fighting to speed up this recovery and keep the economy growing by all means possible. That means extending unemployment insurance for workers who lost their job. That means getting small businesses the loans they need to keep their doors open and hire new workers. And that means sending relief to states so they don’t have to lay off thousands of teachers and firefighters and police officers.
Still, at a time when millions of Americans feel a deep sense of urgency in their own lives, Republican leaders in Washington just don’t get it. While a majority of Senators support taking these steps to help the American people, some are playing the same old Washington games and using their power to hold this relief hostage – a move that only ends up holding back our recovery. It doesn’t make sense.But I promised those folks in Wisconsin – and I promise all of you – that we won’t back down. We’re going to keep fighting to advance our recovery. And we’re going to keep competing aggressively to make sure the jobs and industries of the future are taking root right here in America.
That’s one of the reasons why we’re accelerating the transition to a clean energy economy and doubling our use of renewable energy sources like wind and solar power – steps that have the potential to create whole new industries and hundreds of thousands of new jobs in America.
In fact, today, I’m announcing that the Department of Energy is awarding nearly $2 billion in conditional commitments to two solar companies.
The first is Abengoa Solar, a company that has agreed to build one of the largest solar plants in the world right here in the United States. After years of watching companies build things and create jobs overseas, it’s good news that we’ve attracted a company to our shores to build a plant and create jobs right here in America. In the short term, construction will create approximately 1,600 jobs in Arizona. What’s more, over 70 percent of the components and products used in construction will be manufactured in the USA, boosting jobs and communities in states up and down the supply chain. Once completed, this plant will be the first large-scale solar plant in the U.S. to actually store the energy it generates for later use – even at night. And it will generate enough clean, renewable energy to power 70,000 homes.
The second company is Abound Solar Manufacturing, which will manufacture advanced solar panels at two new plants, creating more than 2,000 construction jobs and 1,500 permanent jobs. A Colorado plant is already underway, and an Indiana plant will be built in what’s now an empty Chrysler factory. When fully operational, these plants will produce millions of state-of-the-art solar panels each year.
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