Solar Shares drop upon German plans to cut Solar Assistance
U.S. listed shares of solar power companies fell 1 - 5 percent on Friday due to plans by Germany to cut its solar assistance faster and deeper than expected - an anticipated cut of 16-17 percent on top of the 10 percent already set out in the German Renewable Act. Shares of First Solar fell about 1%, while shares of Trina Solar and Yingli Green Energy Holdings 3 and 4 percent respectively. Other company shares that dropped include: SunPower, Suntech Power Holdings and JA Solar Holdings. Since Germany has been such a key player in the solar industry, it still remains to be seen how this policy change will affect the entire solar sector long term.