Ascent Solar Technologies, Inc.: A sunny outlook

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Clearly the wind is at the back of alternative energy shares. With electricity prices rising, crude oil soaring and the threat of global warming a near daily headline, the climate is right for companies in the solar business. And why not? Solar energy is inexhaustible, pollution free and helps create local energy independence.

Congress and state governments have become believers; a bill passed by the House this August requires electric utilities to increase the percentage of electricity they produce from renewable resources to 15% by 2020 from 2.75% in 2010. Solar is expected to be a big beneficiary.

In August 2006, California signed into law the "Million Roofs Solar Bill" with the objective of having one million California homes heated and lighted by solar within a decade. By offering economic incentives for installation, the bill aims to increase the use of solar power 30-fold and cut the cost of solar power to consumers in half. By 2011, builders must also make solar panels as accessible of an option for new home buyers as if they were high-end countertops.

With this type of legislative backdrop, the future for solar companies is bright. One of the likely beneficiaries is Ascent Solar Technologies, Inc. (Nasdaq: ASTI).

Ascent was spun-off from ITN Energy Systems in July 2004 and had its IPO in July 2006. ITN, which was founded in 1994 by Dr. Mohar Mistra, a former research whiz at defense contractor Martin Marietta, was created to commercialize innovative technology. Ascent is ITN's forth spin-off.

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