They can soak up some of the ammonia produced by guppies. They can provide shelter for harrassed females and tiny fry. They can even be a source of food organisms!
Maybe one of the most under appreciated benefits of plants is how well they show off a fish's colors. Also, the shelter of plants may reduce stress on the fish from bullies or external shadows upon the tank and actually encourage better health among your finny friends. This is again seen in their colors, vitality and even their number and size of fry.
By offering shelter, shy fish will gradually gain a sense of security, In time they will come out of hiding and strut their stuff
Guppy plants include the rooted Vallisnaria, available in several species, sports and sizes. They spread pretty rapidly by runners.
Najas is a fast growing weed. Shops seldom carry it, but clubs usually have somebody with this hardwater plant that will grow top to bottom in the tank.
Hornwort is a classic floating guppy plant. There are a lot of forms. Too many in the stores are northern plants which look pretty ratty. It is cheap, but medicate a tank and you can almost watch the stuff disintegrate! Good news: it is very salt tolerant.
Low light plants include a number that Chloe listed. She mentioned Java Moss and the genus Anubias (named for one of the Egyptian gods of the afterworld). Also one has beautiful ferns such as Java fern (in several forms) and a couple species of Bolbitus. Too often these are slow growers.
Chloe also mentioned water sprite. While it is not a low light plant, as a floater one can get it to proliferate more effectively than if it is planted. Planted specimens will have leaves shaped somewhat differently by the way.
I think that water sprite (India fern to our British brethern) is probably the best fry sheltering plant in the hobby. Like hornwort, it is also a good indicator of water quality. If either of those plants are falling apart, more water changes are ... or a tank tear down is... in order.
You will sometimes be able to observe guppy fry nibbling on plants. Many times they are eating microscopic critters call rotifers which grow on these leaves. They can be an important food suppliment for small fry.
You might check with your local LFS for plants. There are also mail order places. Quite a few are on-line.
Club auctions, of which there are a lot this fall in urban areas, often see people bringing in quite a few plants. If you have the patience to wait into the latter part an auction or watch for when people aren't paying attention, good deals can be found.
If those things aren't an option, maybe we can brainstorm more in this forum.
All the best,
Scott D.