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Will Congress Extend Solar And Wind Tax Credits
Tempe AZ (SPX) Sep 25, 2008 Evolution Solar's CEO, Robert Kaapke expects 2008 to be a record setting year for both solar and wind. With the tax credits set to expire at the end of 2008, "(Solar installers) don't want to go beyond the December 31st deadline, so everybody's trying to jam-pack their orders in before the end of the year," said Kenedi of Sharp Electronics, the largest U.S. producer of solar panels. "From the manufacturing perspective, we're sold out," said Tom Mueller, a spokesman for BP Solar (NYSE:BP - News) in Houston. Tucson-based Technicians for Sustainability buys solar from Schott Solar Inc. and Sun Power Corp. (NASDAQ:SPWR - News). Both makers have told company president Kevin Koch that he will likely not be able to get any more panels this year. The solar tax credit covers 30% of a system's cost, but it will drop to 10% Jan. 1 2009 if Congress doesn't act after it returned Monday. The likelihood of taking on a new job right now is low, said Tom Dyer, senior vice president of marketing and government affairs at Scottsdale-based Kyocera Solar. "The historical growth within the solar industry is creating a huge demand on suppliers and manufacturers in the market. Silicon prices have gone through the roof and there is a very limited supply of panels," stated Robert Kaapke, CEO of Evolution Solar. Some think the U.S. could be generating 10% of its electricity from the sun within 10-15 years, and Scientific American published a scheme last year for drawing almost 70% of our power using solar by 2050. Merrill Lynch's Mark Heller noted that solar startups raised more money in 2007-8 than Internet stocks did in their 1998 heyday. Community Email This Article Comment On This Article Share This Article With Planet Earth
Related Links Evolution Solar All About Solar Energy at SolarDaily.com
Confluence Solar Raises Series A Funding
St. Louis MO (SPX) Sep 25, 2008Founded by silicon industry veterans, Confluence Solar has announced that the company has raised $12.7 million in capital. Confluence Solar is opening a new facility in Hazelwood, Missouri to develop its HiCz single crystal silicon product. |
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