Senate Approves New Legislation Supporting Wind and Solar Companies
he incentives which encourage construction of wind and
solar energy projects. The Clean Energy Tax Stimulus Act of 2008 passed the
Senate with overwhelming bi-partisan support in an 88 to 8 vote.
Wind and solar industry associations lobbied for months to renew the tax
credits which helped to spur record growth in both industries over the past
five years. Gregory Wetstone of the American Wind Energy Association stated:
'With 116,000 jobs and $19 billion in clean energy investment at risk from the
looming expiration of renewable energy tax credits, the Senate has recognized
the urgency of taking timely action to extend these incentives.'
Lazard analyst Sanjay Shrestha placed a new buy rating on solar cell
manufacturer JA Solar (Nasdaq: JASO). Bank of America issued a buy rating for
First Solar (Nasdaq: FSLR), a world leader in solar semiconductor technology.
CNBC analyst Francis Gaskins put a new higher $4.00 target on wind company
NACEL Energy (OTC Bulletin Board: NCEN). NACEL Energy develops utility class
wind power and just announced two new Texas projects -- Blue Creek, a
20-megawatt facility north of Amarillo, TX and Channing Flats, a 20-megawatt
project in Moore County, TX.
A Before the Bell(TM) renewable energy update.
SOURCE Before the Bell
