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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Alberta shift from coal to cleaner energy
EDMONTON - The turn of the calendar to 2018 saw TransAlta retire one of its coal power generating units at its Sundance plant west of Edmonton and mothball another as it begins the transition to cleaner sources of energy.
The company will say goodbye to three more units over the next year and a half to prepare them for conversion to natural gas.
This is part of a fundamental shift in Alberta, which will see coal power completely eliminated by 2030, replaced by a mix of natural gas and renewable sources.
“We’re going to see that transition continue right up…
