Shares of solar stocks dipped Wednesday after Germany proposed a 15% cut on subsidies to solar power providers.
The proposed cut comes in addition to an annual decline in subsidies that Germany has been implementing in order to wean solar companies off of government support.
One of the biggest players in the solar market, Germany accounted for roughly 50% of global photovoltaic demand last year. Still, analysts predict overall growth in the solar market in 2010, due to higher solar subsidies and increased demand in other countries.
In recent trading, Trina Solar Ltd. dropped 3.8% to $24.02, while Solarfun Power Holdings Co. lost 6.4% to $8.07. First Solar Inc. slid 4.1% to $118.90, and JA Solar Holdings Co. fell 4.1% to $5.21. SunPower Corp. declined 3.5% to $22.24, Suntech Power Holdings Co. Ltd slipped 3.8% to $14.89 and Canadian Solar Inc. fell 2.9% to $25.57.
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