The terrible results of First Solar (Nasdaq:FSLR) in its latest quarter, coupled with declining subsidies from the two largest solar markets in the world - Germany and Italy - dragged down SunPower Corporation (NASDAQ:SPWRA), GT Solar International (SOLR), LDK Solar (NYSE:LDK) and Hanwha SolarOne Co., Ltd.(NASDAQ:HSOL) Wednesday, as the all closed in the negative.
Sources say Italy has reached an agreement to cut subsidies from current levels by 22-30 percent in 2011, 23-45 percent in 2012 and by 10-45 percent in 2013.
Australia also announced they are going to cut A$1,000 from solar panel subsidies a it is pushing up the price of electricity in the country.
The country has already cut back on an initial individual household subsidy of A$8,000 in 2007 to A$3,700 today.
The Australian government also said federal subsidies on rooftop solar panels will end a year earlier than originally stated, some time in the middle of 2013.
With very little demand in India and America - considered two potential new markets for solar - it appears the solar industry is in for a long, rough ride.
Government just need to end the subsidies completely (as well as with all other energy subsidies), and let the market sort out what it wants for energy.
LDK Solar (LDK) closed Wednesday at $10.42, down $0.46, or 4.23 percent.
Thursday, May 5, 2011
SunPower (SPWRA) (SOLR) (LDK) (HSOL) Trade Down as Solar on the Defensive
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1 comment:
"as the all closed in the negative."
"to cut A$1,000 from solar panel subsidies a it is pushing up the price of electricity in the country."
"Government just need to end the subsidies completely (as well as with all other energy subsidies), and let the market sort out what it wants for energy."
Your writing is almost as poor as your foresight.
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