Despite valiant government effort, the solar industry won't be thawed until 2010, mostly because banks are still stingy in their lending practices, says FBR in a note this morning. While that's discouraging today, in the next year or so, FBR sees a sustainable growth for solar companies.
Banks, and then there's the solar union worker problem.
Better hurry, though. Remember?
Obama's recovery package aims to:
- Double within three years the amount of energy that could be produced from renewable resources, an ambitious goal given the 30 years it took to reach current levels. Advisers say that could power 6 million households.
- Upgrade 10,000 schools and improve learning for about 5 million students.
- Save $2 billion a year by making federal buildings energy efficient.
- Triple the number of undergraduate and graduate fellowships in science.
The plan would spend at least 75 percent of the total cost — or more than $600 billion — within the first 18 months, providing a massive infusion of cash to the struggling economy, either through bricks-and-shovels projects favored by Democrats or tax cuts that Republicans have pushed.
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