New Ohio Renewable Energy Law Has National Importance PDF Print E-mail
Written by PR Newswire   
Tuesday, 29 April 2008
In a unanimous vote, the Ohio legislature has passed a new bill requiring 12.5% of Ohio's energy be
generated from renewable sources like wind and solar. Ohio now becomes the 26th state, including California, New York and Texas, to adopt renewable
energy portfolio standards (RPS) -- tough new laws which are creating one of the most dramatic shifts in the delivery of energy to American consumers
ever.
Dozens of planned coal, natural gas and diesel fired power plants have
been cancelled across the country. Instead, 60-gigawatts of wind and solar
power (enough energy to serve 20 million American homes) will be
constructed, according to a new study by the Lawrence Berkeley National
Laboratory.

Not surprisingly, wind and solar companies are enjoying record growth.
Solar wafer maker ReneSola (NYSE: SOL) and photovoltaic company Yingli
Green Energy (NYSE: YGE) both received upgrades from analysts at Piper
Jaffray this month.

But as busy as the solar companies are wind is America's renewable energy of choice. Last year the wind industry installed an astonishing
5244-megawatts of new wind power outpacing solar's 254-megawatts by 20-1. The American Wind Energy Association estimates Ohio's new RPS law on its
own will result in at least $10 billion of new wind energy project investments.

Analyst recommendations in the wind power sector include NACEL Energy (OTC Bulletin Board: NCEN). Regular CNBC guest analyst Francis Gaskins has
a $4.00 target on NACEL Energy. The Wyoming based wind power company recently unveiled a major 80-megawatt expansion, including two new wind
projects in Texas.

Analysts also continue to like NRG Energy(NYSE: NRG) a diversified power producer with a growing wind energy business. Lehman Bros is
overweight NRG with a $55 target.
 
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