Forecast: Sunny and Windy - House Approves Obama Climate Change Bill

WASHINGTON, June 29 /PRNewswire/ -- It was a tense Friday evening for the
Obama administration as the House of Representatives voted on the most
important part of the President's green energy strategy -- and by the
narrowest of margins, 219-212, the American Clean Energy & Security Act was
approved.

The wind and solar industries, together with a broad coalition including
former Vice President Al Gore and many of America's largest corporations,
lobbied intensely for the new legislation. With success in the House, and
expected confirmation in the Senate later this summer, burning coal and
natural gas to generate electric power is about to become much more expensive
for the nation's utilities.

The new climate legislation mandates utilities buy a minimum 15% of their
energy from renewable sources. The result, part of Obama's overall green
energy agenda, will be many more wind turbines and solar panels dotting the
landscape. A host of companies, particularly those developing and operating
the wind and solar projects, have recently been upgraded by Wall Street
analysts.

Jefferies and Co published a buy rating on NRG Energy (NYSE: NRG). NRG is
partnered with oil giant BP (NYSE: BP) and just completed the first 150 MW
phase of the Sherbino wind project in Texas. When fully built Sherbino will
rival Horse Hollow - also in Texas - the world's largest wind power facility

CNBC guest analyst Francis Gaskins has a buy on wind power company NACEL
Energy (OTCBB: NCEN). NACEL has 80 MW (enough energy to serve 25,000 homes)
underway in the Texas Panhandle. Gaskins' research note says NACEL
"represents a unique opportunity for investors interested in exposure to the
sector" and puts a $4 valuation on the small-cap wind company.

Analysts also expect larger solar PV manufacturers to accelerate development
of their in-house power projects with the new legislation. Earlier this year
First Solar (NASDAQ: FSLR) bought OptiSolar's pipeline of utility scale solar
projects. Rival SunPower Corp (NASDAQ: SPWRB) has also announced plans for
solar power projects in Florida and California. UBS analyst Stephen Chin
upgraded SunPower (NASDAQ: SPWRA) to a buy with a higher $38 price target.

Before the Bell Publishing LLC advises C.M. Biddick is a member of the
Financial Industry Regulatory Authority (FINRA) CRD number 2382884.

SOURCE Before the Bell Green Energy Watch

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