Solar stocks clocked due to Chinese worries, tech selloff


Chinese solar demand fell to just 1GW in Q1 from 6GW in seasonally strong Q4, writes Deutsche, which was upbeat about local solar activity at the start of the year.

Deutsche believes Q2 installations will be in a 3GW-4GW range, and (following talks with Chinese solar firms) and thinks 2GW is a more realistic target for 2014 Chinese distributed solar installations than the government's 8GW target. A 14GW target has been set for total installations (8GW distributed, 6GW utility)

The Deutsche report comes a couple days after Bloomberg reported the Indian government has deemed foreign solar firms (inc. U.S. and Chinese companies) guilty of dumping products, a move that raises the possibility of tariffs. Though still much smaller than China's solar market, the Indian market has been growing quickly.

Solar stocks (TAN -3.6%) are underperforming amid a market selloff. Notable decliners: JKS -7.5%. SCTY -6.1%. TSL -5.4%. CSIQ -5.3%. YGE -4.9%. CSUN -4.7%.

Daqo (DQ -9.8%) is especially hard-hit after pricing its 2M-share secondary offering (previous) at $29.

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