Solar Energy Emerges as The Big Winner in Tax Credit Extension

RALPH GARCEA, Haywood Securities Alternative Energy (09/24/2008)
"Yesterday, the US Senate voted 93:2, in favour of Bill 6049. As part of a much larger $100 billion tax bill, the renewable energy portion represents an $18 billion package that extends production tax credits for renewable energy projects, provides additional support for renewable fuels, and provides incentives for energy efficiency and reduced consumption. This comes at the expense of oil producers, which are expected to face higher tax bills. The House of Representatives is expected vote on this Bill today, before it reaches the President’s desk for the final signature.

This is very positive for the overall renewable energy sector in general, though solar energy producers look to be the big winners with the longest production tax credit extension of eight years." (9/24/08)

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