Will Congress Extend Solar and Wind Tax Credits?
Sep 23 - Business Wire
Evolution Solar Corp.'s (OTC: EVSO) 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) in Houston.
Tucson-based Technicians for Sustainability buys solar from Schott Solar
Inc. and Sun Power Corp. (NASDAQ:SPWR). 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 Inc. (NYSE:KYO).
"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.
About Evolution Solar Corporation
Evolution Solar Corporation (OTC: EVSO) commercializes leading edge
alternative solar energy technologies and related photovoltaic technologies,
equipment and next generation appliances. Evolution Solar is an emerging
industry leader capitalizing on its understanding of solar technology and
supporting the development of alternative energy plans for large
corporations and government organizations. Evolution Solar is also an expert
consultant agency to organizations in their strategic and procurement plans
for alternative energy contracts with public utilities. For more information
please visit our homepage at: http://www.evolutionsolar.com.
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