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Piper Jaffray Comments On DOE Loan Guarantee/Obama Energy Policy (GEVO, FSLR, SPWRA)

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Piper Jaffray is commenting on the DOE loan guarantee, which it says “cuts at odds with Obama's renewable energy policy.”

“President Obama's outline for the energy future of the U.S. on Wednesday, runs counter to current House efforts to cut funding for renewable energy,” Piper Jaffray writes. “The President called for 80% of electricity generated from renewables by 2035, a clean energy standard, investments in energy efficiency and to reduce foreign oil dependence 30% by 2025.

“However, this vision is butting up against House Resolution 1 which calls for cuts to the DOE Loan Guarantee program which has been a key enabler of renewable energy projects,” Piper Jaffray writes. “We believe that this situation likely reintroduces regulatory uncertainty into the US renewable landscape.”

Gevo, Inc. (NASDAQ: GEVO), First Solar, Inc. (NASDAQ: FSLR), and SunPower Corporation (NASDAQ: SPWRA) were the companies mentioned in the report.

Gevo closed Wednesday at $20.10; First Solar closed at $155.39; SunPower Corporation closed at $17.09.

 

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