Solar stocks set to shine after Senate measure


Protective Relay Training - Basic

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

Ukraine Prepares for Winter Amid Energy Challenges

Ukraine Winter Energy Resilience focuses on energy security, grid repairs, renewable power, EU support, heating…
View more

Texas Authorizes Emergency Grid Backup Power

Texas officials granted emergency authority for the grid operator to direct data centers and large…
View more

Mercury in $3 billion takeover bid for Tilt Renewables

Mercury Energy Tilt Renewables acquisition signals a trans-Tasman energy push as PowAR and Mercury split…
View more

RBC agrees to buy electricity from new southern Alberta solar power farm project

RBC Renewable Energy PPA supports a 39 MW Alberta solar project, with Bullfrog Power and…
View more

Renewable electricity powered California just shy of 100% for the first time in history

California Renewable Energy Record highlights near-100% clean power as CAISO reports solar, wind, and storage…
View more

Here are 3 ways to find out where your electricity comes from

US energy mix shows how the electric grid blends renewables, fossil fuels, nuclear, and hydro,…
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