The U.S. Senate announced it has approved legislation renewing the incentives which encourage the implementation of wind and solar energy projects. The Clean Energy Tax Stimulus Act 2008 was passed in large part by bi-partisan support in an 88 to 8 vote.
The wind and solar industry lobbied for months to renew the tax credits which helped to stimulate record growth in both industries over the past five years. The American Wind Energy Association’s Gregory Westone said, “With 116,000 jobs and $19 billion in clean energy investment at risk from the looming expiration of renewable energy tax credits, and 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 Holdings Co Ltd. (JASO) and Bank of America issued a buy rating for First Solar Inc (FSLR).
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