Renewable Energy Industry Gets Bi-Partisan Support in Senate Vote
of tax credits and other incentives which have helped spur
record growth in the use of renewable energy, solar and wind power companies
were rewarded when the U.S. Senate passed The Clean Energy Tax Stimulus Act of
2008 with strong bi-partisan support in an 88 to 8 vote.
The legislation was co-authored by Senators Maria Cantwell (D-WA) and John
Ensign (R-NV).
'Satisfying our energy needs and reducing our reliance on foreign sources
is a challenge that we must meet, but that can only happen with the right
incentives in place,' Sen. Ensign said.
The favorable Senate vote for renewable energy was widely anticipated on
Wall Street. CNBC guest analyst Francis Gaskins put a new higher $4.00 target
on wind company NACEL Energy (OTC Bulletin Board: NCEN). NACEL Energy
announced two new wind power projects in West Texas last month -- Blue Creek,
a 20-megawatt facility north of Amarillo, TX and Channing Flats, a 20-megawatt
project in Moore County, TX.
CIBC World Markets put a $17 target on Solarfun Power (Nasdaq: SOLF) which
closed Tuesday at $14.60 and Lazard upgraded LDK Solar (NYSE: LDK). LDK
announced it sold all 2008, and most of 2009, solar wafer production.
A Before the Bell(TM) renewable energy update.
Before the Bell/Investology is a member of the Financial Industry
Regulatory Authority, CRD number 130408
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