Piper Jaffray is reporting that Germay won’t significantly waver in their support of solar energy. The vital feed-in tariff (which obligates electricity utilities to buy renewable energy at above market rates) will reportedly be reduced to 8% for 2009 (previous 9.1%), but increased to 8% for 2010 (previous 7%) and 9% for 2011 and beyond (previous 8%). The worst-case scenario had been surmised as a 30% decrease for 2009.
This good news will likely provide a temporary bounce for the solar sector, perhaps erasing the losses from yesterday. Piper recommends a BUY on the sector.
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