This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Italy Unveiling Solar Cuts Thursday: Report

NEW YORK ( TheStreet) -- Germany moved ahead with plans to send its much-debated solar feed-in tariff reductions to parliament on Wednesday, and Europe is just getting going.

Italy is reportedly to move forward with changes to its solar incentives on Thursday.

Italy industry minister Claudio Scajola told Reuters that the revised solar incentive scheme would be unveiled Thursday. However, another Italian official told Reuters that the "Unified Conference of State and Regions" needs to approve the plan before it goes to industry and environment ministers to be signed. This meeting has not been set up yet, the official said.

The message was slightly confusing. The news service said that based on the comments from the Italian officials, the meeting would have to be organized within a matter of hours. However, at the same time, Reuters gave no indication that there was a chance that the solar incentive reductions would not be presented on Thursday.

Maybe more important than Italian government meeting agenda protocol were the numbers quoted by the Italian industry minister. The industry minister noted that Italy's booming solar market has already hit the 1 gigawatt (GW) level, and the current feed-in tariff scheme expires when the market reaches 1.2 GW. However, there had been prior indications that Italy would not enact the changes to its feed-in tariffs until, at earliest, Jan. 1, 2011.

It is clear that if Italy is currently at 1 GW of solar capacity, there is no way it will not reach 1.2 GW well before the end of 2010.

German prime minister Angela Merkel's cabinet approved its feed-in tariff proposal and is now sending it to the lower house of parliament for a vote, where Merkel's coalition government has s solid majority.

Solar stocks were up big early on Wednesday on a flurry of good news: the German situation coming near a close, a Greek bailout coming into view and making Europe's outlook brighter, and another bullish outlook on solar 2010 from Canadian Solar (CSIQ), which reported earnings on Wednesday morning.

By the afternoon, though, only JA Solar (JASO - Get Report) held onto its hefty level of a one-day share price gain, up over 6%, on trading of more than 6 million shares above its average daily volume.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
JASO $8.67 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs