Solar energy a good investment? You bet...

By Dan Estabrook - September 24, 2008 After yesterday's Senate passage of a bill that would extend $18 billion in tax credits for renewable energy for 8 years, stocks for alternative energy companies soared on Wall Street today - likely a much-needed boost for our volatile economy. The measure will give a 30% tax credit to offset development costs of solar and other clean energy projects.  Both the House of Representatives and President Bush are expected to approve the measure.  Industry experts had been concerned that non-passage of the bill would result in growth reduction for solar energy research and development -- which has proven more costly than other conventional energy sources. Companies that saw stock surges included Energy Conversion Devices Inc., Evergreen Solar Inc. and Akeena Solar Inc. Read more here. Via Environmental News Network and Bloomberg.