Why First Solar Has Surged More Than 40% in One Month

First Solar (NASDAQ:FSLR) has emerged as one of the biggest gainers in the long-suffering solar sector, jumping nearly 20% on Tuesday after a report that U.S. House GOP lawmakers have come up with a big tax and spending package that includes less extreme credit cuts for the solar and wind industries.  According to J.P. Morgan, the revealed portions of the budget reconciliation bill are bullish for solar, wind and geothermal power providers, noting that production and investment tax credits were truncated from their current definitions, but…