WSJ ran a story today of how the one-time darling of solar energy, First Solar (FSLR), is hurting as solar subsidies subside. Key point:
Solar power relies almost completely on subsidies, and those are being slashed in Germany, where First Solar made 65% of its sales last year
The stock is down 40% and is likely to continue dropping. Its core business is suffering due to cheap solar panels coming in from China and the difficulties of transitioning to a systems provider for solar farms. The WSJ thinks it could drop another third.
First Solar (FSLR): 109.80 -3.50 (-3.09%)
