SolarCity, SunEdison, SunPower Flash On Tax Extension
BY ALLISON GATLIN, INVESTOR'S BUSINESS DAILY
06:49 PM ET
Congressional leaders agreed to a $1.15 trillion spending pact that lifts a 40-year ban on U.S. oil exports and, in a compromise, extends a key solar subsidy through 2023 — leading solar stocks to flash Wednesday on Wall Street. Several gained over 20%.
Legislators are poised to vote Thursday or Friday, according to industry tracker IHS.
"Although sudden opposition could block immediate approval of the full bill, it looks close to certain that the ITC (renewable-energy investment tax credit) extension will go ahead," IHS Technology analyst Ash Sharma said in a research report.
