Extended Tax Credits Should Cause Solar Stocks to Heat Up

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Given the renewed selling in solar stocks to start this week, it seems investors and traders were losing hope that this bill could pass because of the enormous financial obligations the American people are likely to take on to save Wall Street from itself.

After the Senate finished grilling the Wall Street bailout triumvirate of Bernanke, Paulson, and Cox, it got to work passing HR 6049, the Renewable Energy and Job Creation Act of 2008, aka the Investment Tax Credit [ITC]. This bill has churned endlessly in Congress this year, but the Senate's approval has made final passage by the House and the President almost certain.

Given the renewed selling in solar stocks to start this week, it seems investors and traders were losing hope that this bill could pass because of the enormous financial obligations the American people are likely to take on to save Wall Street from itself.

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