Renewable Energy Extension Tax Credit will extend the tax credit to 2023. Previously the credit was only good through December 31, 2016. With news of the impending extension, solar companies stock saw a surge. Solar City had the highest with 34.1 %. With the new extension in place, solar companies will be targeting expansion geographically. System wattage size is likely to increase as well.
Solar companies such as Solar City and Sunrun have been lobbying for the extension on Capitol Hill. Those in the solar industry are expecting a jump in growth over the next few years with the news. More Information available on Investor.com here.