Stimulus Plan Is A Ray Of Sunshine For Solar Industry

The solar industry was moving at a frantic pace through the end of 2008 in an effort to capture the solar tax credits that were set to expire at years end. Global demand for solar hit a whopping 5.3 GW and saw the price of silicon skyrocket and solar panels became very scarce.

Citigroup's Timothy Arcuri in a recent research note observed that, "Global demand for solar is likely to see a slight decrease to 5 GW, but driven by a growing pipeline of utility scale projects and aided by government stimulus programs, he thinks the total will jump up to 7.6 GW next year and 9.6 GW in 2011."

Senate Majority Leader Harry Reid's office released a draft of legislation that would give the federal government power to speed the siting of transmission lines from remote zones to population centers. "This is one of the key components to expanding the footprint of both solar and wind power," commented Robert Kaapke, CEO of Evolution Solar.

Mr. Reid's office also suggested that the bill would set aside enough federal land to build 4 to 25 GW of solar power at royalty payments far below current rates.

"Senator Reid's legislation provides a solid framework to start working on policies that will allow VAST QUANTITIES of solar power to be delivered to consumers across the country," Rhone Resch, CEO of the Solar Energy Industries Association, said in a prepared statement.

Robert Kaapke CEO of Evolution Solar sites that, "All the evidence is in and solar and wind power will be the shinning light in the new stimulus plan and industry giant First Solar, Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, Sunpower, and Trina Solar, the China-based manufacturer of solar modules, are among the solar companies that will benefit from the new legislation."

Source - Solardaily