Proprietary Intelligence: Promising ITC Bill May See Senate Action This Week - Cowen
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From Notable Calls
Cowen notes their sources in D.C. tell them that Senators Cantwell and Ensign are drafting an energy tax (ITC/PTC) bill--WITHOUT pay-fors, which could see Senate action Friday. Firm remains bullish on the prospects for such a bill, given the dropped pay-fors construction. they believe that it will be passed in both chambers, and that it should be signed into law during/before May. Final term extensions are hard to handicap. Cowen thinks the Senate bill will have L-T extensions, but that these could shorten (to 1-2 years) in conference. They understand that passing the ITC/PTC is a high priority for Majority Leader Reid. One of the key developments was the consultation between parties, and with the White House. A positive ITC development should positively impact the stocks with greatest U.S. exposure, including Outperform-rated (Nasdaq: SPWR), (Nasdaq: ESLR), (Nasdaq: ENER), and (NYSE: STP).
Notablecalls: Great news. Too bad it's a week too late. Goes in the good to know but not actionable category.
For more calls go to http://notablecalls.blogspot.com/
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Solar ITC
SEIA on Apr 3, 2008 01:49 PMSTATEMENT BY RHONE RESCH ON SENATE BIPARTISAN BILL TO PROVIDE LONG-TERM EXTENSION OF SOLAR INVESTMENT TAX CREDIT “We applaud Senators Cantwell and Ensign for their leadership in presenting a bipartisan solution that stabilizes our country’s commitment to clean, reliable solar energy.” “From New Hampshire to Michigan to Oregon, this bill provides a much-needed shot in the arm for our ailing national economy. This legislation will create thousands of jobs, unleash billions in investment and prevent a major disruption in this fast-growing sector – all at a time when we need it the most.” “We look forward to working with Senators Cantwell and Ensign and their respective leadership to see that a long-term extension of the ITC passes in the Senate, makes its way through conference and is signed by the President. With this one act, we can put our nation on a path to once again become a global leader in clean, reliable, job-creating solar power.” ### Rhone Resch is president of the Solar Energy Industries Association. SEIA is the national trade association of solar energy manufacturers, dealers, distributors, contractors, installers, architects, consultants and marketers. Established in 1974, SEIA works to expand the use of solar technologies in the global marketplace, strengthen research and development, remove market barriers, and improve education and outreach for solar. Learn more at www.seia.org. Media Contact: Monique Hanis, SEIA Office: 202.682.0556, ext. 4 Cell: 202.236.8220