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Solar stocks fall after Germany votes on cuts

Thu, 05/06/2010 - 12:24pm
Reuters

LOS ANGELES (Reuters) - U.S.-listed shares of solar companies dropped by as much as 15 percent on Thursday, the day Germany's Bundestag lower house of parliament approved cuts for solar power incentives to take effect from July.

Germany is the world's No. 1 solar market, and though the cuts were expected, some analysts had hoped they would be pushed back.

Solar subsidies in Germany for rooftop-installed solar power will see a one-off cut of 16 percent, while most open field installations will be cut by 15 percent. Support for farmland solar systems is to be scrapped completely from July. [nLDE6452I3]

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