Solar stocks set to shine after Senate measure


Substation Relay Protection Training

Our customized live online or in‑person group training can be delivered to your staff at your location.

  • Live Online
  • 12 hours Instructor-led
  • Group Training Available
Regular Price:
$699
Coupon Price:
$599
Reserve Your Seat Today
Solar power companies' stocks appeared set to climb ahead of the market open following the U.S. Senate's passage of a bill that would extend $18 billion in tax credits for renewable energy for eight years.

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.

Related News

Solar PV and wind power in the US continue to grow amid favourable government plans

US Renewable Power Outlook 2030 projects surging capacity, solar PV and wind growth, grid modernization,…
View more

EU outlines $300 billion plan to dump Russian energy

REPowerEU Plan accelerates the EU's shift from Russian fossil fuels with renewable energy, energy efficiency,…
View more

EIA: Pennsylvania exports the most electricity, California imports the most from other states

U.S. Electricity Trade by State, 2013-2017 highlights EIA grid patterns, interstate imports and exports, cross-border…
View more

France nuclear power stations to limit energy output due to high river temps

France Nuclear Heatwave Restrictions signal reduced nuclear power along the Rhone River as EDF imposes…
View more

London's Newest Electricity Tunnel Goes Live

London Electricity Tunnel strengthens grid modernization with high-voltage cabling from major substations, increasing redundancy, efficiency,…
View more

Portland General Electric Program Will Transform Hundreds of Homes Into a Virtual Power Plant

PGE Residential Energy Storage Pilot aggregates 525 home batteries into a virtual power plant, enabling…
View more

Sign Up for Electricity Forum’s Newsletter

Stay informed with our FREE Newsletter — get the latest news, breakthrough technologies, and expert insights, delivered straight to your inbox.

Electricity Today T&D Magazine Subscribe for FREE

Stay informed with the latest T&D policies and technologies.
  • Timely insights from industry experts
  • Practical solutions T&D engineers
  • Free access to every issue

Download the 2026 Electrical Training Catalog

Explore 50+ live, expert-led electrical training courses –

  • Interactive
  • Flexible
  • CEU-cerified