UPDATE: First Solar Rallies 5%; Solar Stocks Power Higher as Japan Minister Confirms Generous Subsidy.

By MidnightTrader.com Staff,

Shutterstock photo

Shares of First Solar are up 5% and several other solar sector stocks have joined this rally after Reuters, citing Industry minister Yukio Edano, reported that Japan has confirmed some generous subsidies for solar sector participants as the country moves to subsidize renewable energy.

For solar-generated electricity, the subsidy will be 53 U.S. cents per kilowatt hour, roughly double what Germany currently offers.

Other solar stocks rallying include Suntech Power Holdings ( STP ), which is up 11%, JinkoSolar ( JKS ) is up nearly 4%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: JKS , STP

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