Germany seems to be set to reduce solar FIT by 16% for rooftops and 15% for ground mounted installations. Despite speculation that the FIT cuts would be lower,there seems to be no changes as the 1.5 GW installed in December would have sealed the fate of the cuts . There is already forecasts of 5 GW or more in 2010 with these FIT cuts. I don’t think the German government would want 10-15 GW installed in 1 year which would invite a backlash to shut the program completely. There are rumors of Italian government proposing to cut FIT quarterly which makes more sense given the fast changes taking place in module prices.Stock prices have not reacted to this news as most of it is baked in already.From Bloomberg
“Germany’s ruling coalition will only make slight changes to planned reductions in solar power incentives, sources told Reuters late Thursday, with the brunt of the cuts to remain unchanged.
The sources said parliamentary experts in Chancellor Angela Merkel’s centre-right administration agreed that so-called feed-in tariffs for new rooftop solar installations will be cut by 16 percent from July as planned.
Most open-field installations will be cut by 15 percent, with support for farmland solar systems to be scrapped completely, the sources said”
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Man what a week for the markets! I have been trading for over 20 years and have never seen the market take a dive like this week. I hope the investigation shows what happened. Funny thing though, I thought there were circuit breakers that suspended trading for a bit to let the markets settle down after a large point drop.
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Sure was a crazy week. Great for traders not so much for investors. TAN looks a great buy here
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