SMOG - Another big day for solar shares as hopes for tax credit extension run high

Solar shares continued to rise today, suggesting investors are confident that an extension of the federal tax credit on investments in the industry will remain in the budget bill making its ways through the U.S. Congress. "The best thing that D.C. can do for solar is to pass the tax credit package," Meghan Nutting, Sunnova Energy (NYSE:NOVA) executive VP of government and regulatory affairs tells Bloomberg. Sunnova shares closed +5.3% in today's trading; also, SPWR +7.7%,  RUN +6.1%, DQ +5.6%, ARRY +5.1%, JKS +4.1%, SUNW +4%, ENPH +3.9%, SEDG +3.6%, MAXN +3.6%, FSLR +3.3%, CSIQ +0.9%. ETFs: TAN, ICLN, QCLN, SMOG The $3.5T budget reconciliation package currently includes a 10-year extension to the solar investment tax credit at 30% for projects that meet certain labor conditions. The Biden administration continues to say renewables are a key part of the bill despite rumors that the tax credit could be modified to

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Another big day for solar shares as hopes for tax credit extension run high