First Solar's U.S. Ambitions Slowed

"If people had been thinking that Germany may flatten or decline, but don't worry, the U.S. and China will pick up the slack, it doesn't look like the U.S. is going to do its part any time soon," Hersey said.

The other major tariff markets -- Ontario, Italy and France, for example -- don't have enough wattage combined to equal Germany or even the First Solar projects cancelled by the Bureau of Land Management.

Even if First Solar has made a short-term strategic decision to pull back from the U.S. large-scale market, Hersey said, one problem will nevertheless remain. Now that its applications have been cancelled, First Solar would have to queue up at the back of the government's application-processing line if any other entities place new bids on the projects.

First Solar shares ended Tuesday's session at $135.50, down $1.49, or 1.1%.

--Reported by Eric Rosenbaum in New York.

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