In proposed legislation introduced by Senator Harry Reid yesterday, it was clear that the natural gas fuel providers and parts suppliers may be big beneficiaries. Along with establishing a Nat Gas Vehicle and Infrastructure Development Program within the DOE, nearly $4 billion in rebates would be provided to purchasers of nat gas vehicles as well as another $2.5 billion for grants for infrastructure and R&D.
Andrew J. Littlefair, Clean Energy President and CEO, said, “We … Read the rest
The House’s refusal to pass the bailout bill may be a blessing in disguise for the renewable energy industry, says the New York Times. The tax credits are still set to expire this year, as the House and Senate can’t agree on some of the provisions attached to the bills introduced to extend them. The House was planning to adjourn and not come back until after the inauguration, but since they couldn’t pass a … Read the rest
The StreetInsider.com is reporting that there are rumors that the House has also voted to extend the tax credits for solar, wind and other renewable energies… Remember the Senate passed the bill a few days ago. I’ll have an update soon.
Update: The story is out on Reuters now. The House measure is similar to the Senate bill that has passed with an exception.. it leaves out incentives to develop oil from shale … Read the rest
The Senate just passed an energy bill that would renew the investment tax credits for renewable energy. Those credits are set to expire at he end of the year, and they are vital to encouraging investment in renewable energy technologies. Now, GoSanAngelo.com reports that the House is debating a second version of the bill, different from the Senate’s in that it increases taxes to pay for the credits. The legislation is being rewritten … Read the rest
With the bill to extend investment tax credits for renewable energy (finally!) past the Senate, Shares of several stocks that had taken a beating began to rise again. For example, shares of Energy Conversion Devices (ENER), which had taken a nosedive of 18.5% on Tuesday, were back up by 13 percent, to $63.79. Solar Integrated Technologies, one of Energy Conversion Devices major clients, lowered its guidance for the second half of 2008 based in part … Read the rest