LOS ANGELES (Reuters) - U.S.-listed shares of solar companies dropped by as much as 15 percent on Thursday, the day Germany’s Bundestag lower house of parliament approved cuts for solar power incentives to take effect from July.
Germany is the world’s No. 1 solar market, and though the cuts were expected, some analysts had hoped they would be pushed back.
Solar subsidies in Germany for rooftop-installed solar power will see a one-off cut of 16 percent, while most open field installations will be cut by 15 percent. Support for farmland solar systems is to be scrapped completely from July. [nLDE6452I3]
Shares of Trina Solar Ltd, Yingli Green Energy Holding Co Ltd and Suntech Power Holdings Co Ltd fell 15.15 percent, 12.77 percent and 12.03 percent, respectively, on the New York Stock Exchange.
LDK Solar Co Ltd dropped 10.71 percent and JA Solar Holdings Co Ltd was down 7 percent.
Reporting by Dana Ford; Editing by Bernard Orr
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