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America's prospects for a solar powered future just got much brighter.

The Spanish engineering firm Abengoa has announced that it's sealed a deal with the Arizona Public Service (APS) Company to build the largest concentrating solar plant in the whole world about 70 miles southwest of Phoenix, Arizona. It will be one of the first cases where a utility relies on solar power for its day-to-day operations.

And at a build cost of $1 billion, it will generate 280 MW of electricity and be capable of powering around 80,000 homes -- in just three years.

But. There's a catch.