Friday, January 29, 2010

"Germany aims to delay solar incentive cuts: sources say" (FSLR)

There's going to be a rush to get as many installations in as possible.
First Solar should benefit in the immediate term, they have the capacity and aren't shy about offering financing and/or rebates.
The stock is trading up $2.15 at $116.50.
From Reuters:
German Environment Minister Norbert Roettgen wants to delay his proposed 15-percent cuts in solar power incentives by one month until May 1 rather than April 1, government sources told Reuters on Friday.

Roettgen has faced criticism from within his own party, with regional leaders urging him to delay or water down his proposed 15-percent cut in the incentives that utilities are obligated by law to pay producers of solar power.

Solar power companies in Germany, where about half of the world's photovoltaic energy is produced and fed into the grid, have also complained about Roettgen's proposed cuts. They said they are too steep, too fast and will kill jobs.

The government sources also told Reuters that further cuts after 2011 could be steeper than Roettgen is now planning.

If there are more than 3,500 megawatts of solar power capacity added within one year the cuts would sink 3.5 percent in the following year instead of 2.5 percent now planned....MORE