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New Energy Bill Boosts Wind and Solar Companies

Posted on: Tuesday, 1 April 2008, 09:01 CDT

WASHINGTON, April 1 /PRNewswire/ -- The U.S. House of Representatives passed a new energy bill which re-authorizes incentives encouraging construction of wind and solar power projects and also introduces important new measures to improve energy conservation. The U.S. Renewable Energy and Energy Conservation Tax Act of 2008 was passed with bi-partisan support in the House in a 236 to 182 vote.

The wind and solar industry associations have lobbied hard to extend the tax credits which have spurred record growth in both industries over the past five years. Many analysts view the extension as necessary for wind and solar companies to compete on a level playing field. Analysts at Merriman Curhan Ford & Co issued a buy rating for Akeena Solar , the nation's leading installer of solar systems. Janco Partners upgraded Evergreen Solar from market-perform to buy.

CNBC guest analyst Francis Gaskins put a new higher $4.00 target on wind company NACEL Energy (BULLETIN BOARD: NCEN) . NACEL Energy develops utility class wind power and just announced two new Texas projects -- Blue Creek, a 20-megawatt facility north of Amarillo, TX and Channing Flats, a 20-megawatt project in Moore County, TX.

A Before the Bell(TM) renewable energy update.

Before the Bell

CONTACT: Before the Bell, 1-888-249-3011

Source: PRNewswire

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