A quick update on a story we’ve been following: The bailout bill has passed both the House and the Senate, was signed into law by President Bush, and includes provisions to extend the tax credits for renewable energy. It’s difficult to overstate the importance of the tax credits for the renewable energy industry.

The New York Times quoted Rhone Resch, president of the Solar Energy Industries Association, on the bill. According to Resch, “There’s a sense of relief, obviously. It really does open up the U.S. to become the largest solar market in the world.”