Akeena Solar, Inc. (AKNS) Remains Positive on Word of Credit Line Increase, Distribution Agreement Despite Failing Incentives
Passage of the final version of the revamped energy bill slashed new solar tax incentives in the House version, and the Senate failed to get the support to score an updated incentive package, blowing a punch to the solar panel industry. Still, existing incentives won’t expire until December 2008. It may seem like a setback for the rapidly growing industry, but companies such as Akeena Solar, Inc. (NASDAQ: AKNS) are taking the hit in stride. The California-based company recently announced the first licensing agreement for its new patent pending solar panel technology Andalay. Per the agreement, Suntech Power (NYSE: STP)…