Solar energy was given a boost last week after $18 billion in tax credits for clean energy were tacked on to the bailout bill to ease its passage through Congress.

Since then, however, concerns of oversupply have whacked solar stocks. This prompted Goldman Sachs (NYSE:GS) to downgrade several solar companies to a “sell”.

J. Cristoph Amberger says the current financial crisis will hurt investment in solar power. He recommends investors sell their positions while they still can.

On Tuesday, we published a post by Taipan Daily editor Justice Litle, Why the China Bears Are Wrong.

Justice gave six reasons why China is a buy now. These included the recent correction in crude oil prices, China’s high level of personal savings and the country’s massive foreign reserves.

Today’s Financial News editor J. Christoph Amberger says Justice is wrong about China. The Shanghai and Shenzhen stock exchanges have plummeted since the opening of the Beijing games. J. Christoph says China now looks more like Japan in the ’90s than a strong buying opportunity…

Dan Denning says Australia is the buckle on the global sun belt. This makes the country perfect for solar energy projects. Like the one recently announced by Worley Parsons (ASX:WOR): the Pilbara solar project…

General Electric Corp. (GE) is strengthening its commitment to clean energy with a $230 million (150 million euros) investment in Spain’s Fotowatio. The investment, made through GE’s Energy Financial Services unit, will amount to a 32% stake in the solar-energy firm.

Justice Litle follows up with Cash McDash regarding the IPO debut of GT Solar International (SOLR), a stock market letdown, and why SOLR is still worth watching.

T. Boone Pickens made his fortune in oil. But now the Dallas oilman and famed former corporate raider is betting $2 billion that he can have the same success with a new source of energy - wind.

After a strong 2007 campaign, solar stocks - and the overall clean energy sector - fell hard in the first quarter of 2008. The PowerShares Wilder Hill Clean Energy Portfolio (PBW), an industry standard, plunged nearly 30%.

Cash McDash is on a roll.  Just don’t give him grief over his new nickname.  There is an art to making money in bear market rallies. Cash explains. Is this China-based pharma company a great buy… a great short… or none of the above?