sleung
10-07-2008, 10:56 AM
The financial turmoil sweeping the U.S. financial markets has turned out to be a boon to the solar industry in the United States. The $700 billion Wall Street bailout package passed by Congress last week includes an eight-year tax credit extension for individuals and companies that harness the sun’s rays to produce electricity. The industry had been worried that the credits were not going to be given a new life after their December 31, 2008 expiration date.
This windfall comes at a time when the United States is showing a renewed interest in solar energy. Although the country is only the fourth largest market after Germany, Japan and Spain, its 45 percent growth rate in solar panel installations tied to the grid is among the highest in the world. The country also leads in the manufacturing of thin-film photovoltaic cells, with nearly half the world’s output.
http://www.globe-net.com/other_news/listing.cfm?type=2&newsID=3777
This windfall comes at a time when the United States is showing a renewed interest in solar energy. Although the country is only the fourth largest market after Germany, Japan and Spain, its 45 percent growth rate in solar panel installations tied to the grid is among the highest in the world. The country also leads in the manufacturing of thin-film photovoltaic cells, with nearly half the world’s output.
http://www.globe-net.com/other_news/listing.cfm?type=2&newsID=3777