Solar stocks set to shine after Senate measure
The measure, which is expected to be approved by the House of Representatives and President George W. Bush, gives businesses a 30 percent tax credit to offset the development costs of solar and other clean energy projects.
Industry experts had warned that failure to extend the tax credits that were to expire at the end of 2008 would hamper the growth of solar power, which remains more expensive than conventional electricity sources, such as coal and natural gas.
"We see this as an important catalyst for the entire solar and renewable energy sector, especially for solar names with residential exposure such as (SunPower)," analysts at Piper Jaffray wrote in a note to investors.
SunPower Corp is the solar market leader in North America. Other companies likely to see a boost include First Solar Inc, Suntech Power Holdings Co Ltd, Yingli Green Energy Holding Co Ltd, and Evergreen Solar Inc.
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Germany turns its back on nuclear for good despite Europe's energy crisis
BERLIN - The German government is phasing out nuclear power despite the energy crisis. The country is pulling the plug on its last three reactors, betting it will succeed in its green transition without nuclear power.
On the banks of the Neckar River, not far from Stuttgart in south Germany, the white steam escaping from the nuclear power plant in Baden-Württemberg will soon be a memory.
The same applies further east for the Bavarian Isar 2 complex and the Emsland complex, at the other end of the country, not far from the Dutch border.
While many Western countries depend on nuclear power, Europe's largest…
