It's ALIVE!!!

Implications: Just when you think it's over, and the US solar and wind industries will have to scramble to finish 2008 installations and sweat out 2009 inactivity, Congress has passed fairly close versions of solar and wind power incentives that promise to be at least an adequate patch over to next year, and possibly the beginning of something of a strategic policy.  The offshore drilling issue, a major bone of contention to the "Drill, Baby, Drill" crowd, has reached a compromise, which will result in millions of additional acres under lease and also not being exploited.

Analysis: After something like eleven defeats this year (I've lost count), it appears that Congress may be crafting a solar and wind incentive bill that the White House may accept and that will at the very least patch things over until a more comprehensive plan could be enacted by a new President and Congress in 2009.

The deadline for getting the two different bills conferenced and passed is September 26, when Congress adjourns for the election season.  The difference in versions are over length and amounts of some of the incentives, but that is expected to be reconciled.   Allowing for additional offshore drilling is a sop thrown at the "Drain America First" crowd while enabling the solar and wind industries to gear up in scale, continue to reduce costs and predominate as we run out of looking under petroleum and natural gas sofa cushions for loose change.

Hopefully the next analysis being made here in the next few days will be what the enacted solar and wind incentives will do for the US and global markets.