NEW YORK (TheStreet) -- On Friday, President Obama was scheduled to announce several new energy initiatives aimed at pushing solar energy in the U.S.

The $2 billion plan, which will bypass deadlocked Congress using executive privilege, will seek to aid in solar installation financing as well as training for building a solar workforce.

The announcement will be made at a Wal-Mart(WMT) - Get Report in Mountain View, Calif.

I can attest to the power of federal and state influence in solar. I installed my solar system almost eight years ago through similar federal and state grants.

Not only has the solar system help reduce my energy bill, but it has helped foster a desire to go above and beyond in energy conservation in other areas, a benefit that does not garner much press attention.

When I installed my 6 kilowatt system, it cost $43,500. After state and federal rebates, the total out-of-pocket came to $13,500 for a 70% savings. Before solar, my average monthly bill was $300. Today it is $5.

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The solar sector has been under a lot of pressure in recent weeks, and Friday's announcment to fund solar energy in the U.S. could help bring trader interest back to the sector.

Solar leader First Solar (FSLR) - Get Report should benefit from this new interest. Other companies that could see renewed trader interest include GT Advanced Technologies (GTAT) , which provides materials and equipment to the solar industry, and Ascent Solar Technologies (ASTI) , a maker of flexible, lightweight solar modules that allow for applications without the restrictions of conventional glass panels.

STR Holdings (STRI) , a manufacturer of encapsulants for solar modules, is another company to watch.

These companies are all U.S.-based, a likely criteria for the president's new solar energy push.

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At the time of publication, the author had positions in ASTI, positons can change at any time.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.