14 Dec '12, 3pm

Solar Energy Rallies on New Beijing Subsidies #solarenergy #solartech

China's solar panel industry is starting to look more and more like a beggar kneeling on the doorstep of Beijing, with the latest word that the central government is preparing to hand out an additional $1.1 billion in subsidies to the struggling sector. That news comes just after a government official was quoted saying Beijing is considering a plan to double its already ambitious target for a massive building spree of new solar electricity plants, again in a bid to support the struggling sector. Shares of embattled solar panel makers -- many of which are now trading below the $1 mark -- rallied on this "double happiness" pair of reports, with the healthiest companies notching the biggest gains.Among those, Yingli (NYSE: YGE) posted the biggest gains of about 18 percent, with Trina (NYSE: TSL) and Canadian Solar (Nasdaq: CSIQ) both up around 10 percent. Even Suntech(NYSE: S...

Full article: http://www.renewableenergyworld.com/rea/blog/post/2012/12...

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