Obama will be great for the solar industryNovember 7, 2008
Obama’s encouragement to build alternate energy sources coupled with the eight-year extension of tax incentives for solar power projects, which was part of the $700 Billion bail out passed by US Congress are good reasons for solar power companies to feel optimistic.
The tax breaks announced by Congress will encourage private investment from photovoltaic companies such as Moser Baer which have planned investments to the tune of US $3.6 Billion in research, development and manufacturing of products dedicated to generating solar power.
Other players who will benefit are Tata BP Solar and Reliance Industries Ltd. which announced last year its intention to set up a solar plant in West Bengal.
Categorised in: Industry News