Solar's First Solar (FSLR) (ASTI) (HSOL) (ESLR) Under Pressure on Financing Uncertainty

Shares of Ascent Solar Technologies (NASDAQ:ASTI), Hanwha SolarOne Co., Ltd.(NASDAQ:HSOL), Evergreen Solar (NASDAQ:ESLR) and First Solar (Nasdaq:FSLR) all closed down Friday as the solar sector continues to be under immense pressure in relationship to financing concerns.

With America facing its own sovereign debt crisis, masked by the seemingly endless amount of new money thrown at the economy by the Federal Reserve, the solar industry in the country is facing more uncertainty, as lawmakers look to make budget deals, which could cut financing from the U.S. Department of Energy for the sector.

That was after First Solar (FSLR) alleged they were told by the Department of Energy they were still being considered for financial assistance to construct three major solar plants in the country.

Funding challenges also face the international solar industry as many countries continue to struggle with the lack of capital to artificially prop up the industry.

A lot of focus has been on the removing of subsidies from the big oil companies, but in fact we need to have all energy subsidies removed across the board and the let the free market decide how it wants to produce and consume energy and electricity, not politicians.

Evergreen (ESLR) got pummeled Friday, closing at $1.08, down $0.33, or 23.40 percent, as it's questionable whether it has the financing in place to survive.