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Germany's faster subsidy cuts to add to solar companies woes

Sun, 02/26/2012 - 4:23am
Reuters

(Reuters) - Top solar consumer Germany's plans to advance the date of subsidy cuts could spell further trouble for companies such as First Solar and Trina Solar Ltd already weighed by low selling prices, some analysts said.

On Thursday, German government sources told Reuters they plan to bring forward cuts in solar power subsidies of up to 30 percent by almost a month to March 9, to thwart any last-minute boom in projects.

"In our view, the pricing environment is just too difficult and likely won't improve given additional subsidy cuts in Germany and import tariff risk in the United States," Wells Fargo analyst Sam Dubinsky said, and downgraded Trina Solar to market perform from outperform.

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