Howard Stern, Tax Cuts, and a New Solar Stock For 2011
From Energy and Capital's Jeff Siegel:
"For years, I have watched the renewable energy industry essentially beg for breadcrumbs while established, mature industries — like oil and coal — strolled through the halls of Congress with wheelbarrows of taxpayer dollars.
This year, the Treasury Grant program for renewables is set to expire on December 31. But in an effort to reach a compromise, a one-year extension of that program was introduced in the Senate last Thursday.
According to the Lawrence Berkeley National Laboratory, this program has supported more than 55,000 jobs. The program has also supported 1,179 solar projects in 42 states, and 211 wind projects in 38 states.
The purpose of the program was to stimulate financing and installation of renewable energy projects. It succeeded. In fact the program leveraged $5.4 billion in federal funds to attract more than $12.7 billion of outside investment.
And according to a report co-authored by Deutsche Bank, a one-year extension of these grants would create more than 100,000 new jobs.
Solar stocks to watch
With the one-year extension of the treasury grants, solar advocates are breathing a short sigh of relief.
As well, I spent about an hour this morning sifting through new analyst reports that are now including the impact of the treasury grant extension. After all, even the most bullish solar analysts were shrugging their shoulders at the possibility of the solar industry getting cut off.
And we've had to make some adjustments as well. To be honest, we weren't too bullish on the treasury grants being extended. But overall, little has changed in regards to our solar outlook for 2011.
China solar manufacturers will remain the dominant force, and a handful of China solar stocks will continue to be the strongest contenders — including, but not limited to..."