September 19, 2008

Weekly news roundup

The US financial crisis is this week's big news with Lehman Brothers filing for bankruptcy, insurance firm A.I.G being bailed out by the federal government (following their earlier bailouts of two other giants Freddie Mac and Fannie Mae), and Merrill Lynch to be acquired by Bank of America.

Will this crisis affect federal funding and tax credits on the renewables sector? To be sure banks and other lenders will tighten their standards in financing any projects and investments, which unfortunately is always badly needed especially in the clean tech sector.

We will just have to wait and see some of the industry analysts' projections after this crisis...if those financial analysts still have their jobs. For now, here's this week's news:

Lehman effects on solar
The effects of Lehman Brothers' bankruptcy filing on some of Evergreen Solar's stocks is uncertain but Evergreen officials said they are preparing all legal remedies to protect the company and its shareholders.

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