German Solar Subsidy Cuts Reportedly Won’t Be As Significant As Expected

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07:10:29 pm on February 22, 2010

Apparently Germany will not cut solar subsidies as much as had been expected according to draft legislation released today.  They are now planning a 15% cut for solar parks built after July 1st (less than the 25% previously expected), while rooftop system subsidies will be cut by 16% (same as previously expected).  Nothing is set in stone yet as the constantly changing rumors indicate and these numbers may very well change when lawmakers meet on Feb 26th to discuss solar subsidies and other renewable energies.

A few of the solar names rallied quite a bit after 1PM EST on the news but gave much of the gain back by the end of the day, ultimately finishing in the red as a downgrade from Barclays on a few names weighed early.

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