Cowen’s Rob Stone commented this morning on the announced $2.3 billion in tax credits for clean energy equipment manufactures from the Treasury Department and the Department of Energy, suggesting that it will help support manufacturing facilities for companies like First Solar (Nasdaq:FSLR), Suntech (NYSE:STP) and Solar World (SWV.DE) which are all expanding facilities in the U.S. Though he said he doesn’t expect to see any immediate impact on stocks.
· Could support up to $7.7 billion in manufacturing investments
· The program could make U.S. manufacturing more competitive vs. offshore manufacturing
· Preliminary applications are due September 16 and final applications are due October 16