Investment Tax Credits Extended in Senate
The Investment Tax Credits for alternative energy passed through the House last week and made its way through the senate yesterday with out any hitches.Only two senators voted against the broader tax package, which is strange, but it could be the $700 billion bailout proposal that they are focusing on instead.
This result is certainly a GOOD thing for the clean tech and renewable energy sectors across the board. Solar energy is getting the biggest break with eight years of investment tax credits! In regards to the breaks, Tidal gets two years and wind a one year extension. PHEV buyers will get back anywhere from $2,500.00 to $7,500.00 back.
Here Comes the Sun: 8 Year Solar Tax Credit a Major Market Boost!
Giving solar an eight year tax credit is expected to triple business and jobs in that sector. Most companies haven't established long-term contracts historically due to the uncertainty surrounding tax credits. With breaks now solidified for the next 8 years, the solar business should boom thus creating an explosion of jobs, stock returns and renewable energy options for Americans.
Some up-and-coming companies to watch for are HOKU Scientific [HOKU], a polysilicon manufacturer, LDK Solar [LDK], solar wafer and module makers, and Premier Power [PPRW], a professional integration company. There are many more alt-energy plays out there that will certainly prosper going forward as a direct result of the tax credit extension, but if you want to learn more about the three listed above, please visit this blog link.
Labels: HOKU, HOKU Scientific, investment tax gredits, ITC, LDK, LDK Solar, new bill, new legislature, PPWR, Premier Power, renewable energy, Senate, Solar, solar energy, tidal energy, wind energy
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11:09 AM
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