Wednesday, April 02, 2008

Proprietary Intelligence: Promising ITC Bill May See Senate Action This Week - Cowen

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 SPWR, ESLR, ENER, and STP.

Notablecalls: Great news. Too bad it's a week too late. Goes in the good to know but not actionable category.

3 comments:

TraderBeanie said...

It's never too late for solars, my friend. The bull market has only begun. 4x bigger than the internet bubble expected.

Beanieville.blogspot.com

Anonymous said...

STATEMENT 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.”

cramermutebutton said...

really appreciate all your comments on this stuff. trying to get myself up to speed on this solar stuff