Senate Approves New Legislation Supporting Wind and Solar Companies
PRNewswire 8:00 a.m. 04/14/2008
WASHINGTON, April 14, 2008 /PRNewswire via COMTEX/ -- The U.S. Senate has approved legislation renewing the 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 (JASO) . Bank of America issued a buy rating for First Solar (FSLR), a world leader in solar semiconductor technology.
