Solar stocks soar on outlook for U.S. subsidies

LOS ANGELES (Reuters) – Shares of solar power companies soared on Friday on optimism that key tax subsidies for the renewable energy sector could be extended by U.S. lawmakers in the coming weeks.

A new bipartisan proposal by U.S. Senators Maria Cantwell and John Ensign would extend the tax credits, and Wall Street analysts said the measure has a good chance of passing soon because it is not linked to a tax hike for Big Oil.

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