Solars Stocks on Watch as China Allocates $2B for Solar Subsidies (FSLR) (SPWR) (STP)
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Solar stocks, including First Solar (NASDAQ: FSLR), are on watch Wednesday following positive movements on Chinese solar subsidies.
China allocated 13 billion yuan ($2 billion) this year for domestic solar installations, Xinhua reported. They funds are to be spent on solar power demonstration projects with 5.2 gigawatts of capacity, according to an unidentified official from the Ministry of Finance.
The government is providing a 5.5 yuan per watt incentive for projects where developers will consumer their own power. This is raised to 18 yuan a watt for residential systems and 25 yuan a watt for independent photovoltaic power plants.
Solar stocks to watch on the news:
First Solar (NASDAQ: FSLR)
SunPower (Nasdaq: SPWR)
ingli Green Energy (NYSE: YGE)
SunTech Power (NYSE: STP)
Trina Solar (NYSE: TSL)
JA Solar (Nasdaq: JASO)
LDK Solar Co., Ltd. (NYSE: LDK)
ReneSola Ltd. (NYSE: SOL)
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China allocated 13 billion yuan ($2 billion) this year for domestic solar installations, Xinhua reported. They funds are to be spent on solar power demonstration projects with 5.2 gigawatts of capacity, according to an unidentified official from the Ministry of Finance.
The government is providing a 5.5 yuan per watt incentive for projects where developers will consumer their own power. This is raised to 18 yuan a watt for residential systems and 25 yuan a watt for independent photovoltaic power plants.
Solar stocks to watch on the news:
First Solar (NASDAQ: FSLR)
SunPower (Nasdaq: SPWR)
ingli Green Energy (NYSE: YGE)
SunTech Power (NYSE: STP)
Trina Solar (NYSE: TSL)
JA Solar (Nasdaq: JASO)
LDK Solar Co., Ltd. (NYSE: LDK)
ReneSola Ltd. (NYSE: SOL)
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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