Chinese solar panel maker Trina Solar Ltd. (NYSE: TSL) posted a larger-than-expected net loss today and dragged down other Chinese solar makers including Yingli Green Energy Holding Co. Ltd. (NYSE: YGE), Hanwha SolarOne Co. Ltd. (NASDAQ: HSOL), and Suntech Power Holdings Co. Ltd. (NYSE: STP). But the worse news is still to come.
Germany has announced a deeper-than-expected cut to solar subsidies, and the cuts will come almost a month sooner than expected. A cut of up to 29% on solar subsidies will go into effect on March 9th. Solar panel makers were expecting a 15% cut effective April 1st. Many of the Chinese solar makers watched their share prices climb recently on an anticipated jump in orders to beat the April deadline. Those expectations are now out the window.
Trina’s shares are down nearly -11% at $8.70, in a 52-week range of $5.28-$30.60.
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