LDK, the second-largest maker of solar wafers globally, jumped 11 percent Jan. 4 to $2.14, the highest price since June 21. Suntech, the world’s biggest solar-panel maker, rose 2.7 percent to a six-month high of $1.87. Yingli Green Energy Holding Co. (YGE) climbed 23 percent in the week while Trina Solar Ltd. added 17 percent.
The Chinese government will provide a total 1.82 billion yuan ($290 million) in subsidies to 126 rooftop solar installation projects, renewing an aid program started in 2009, China Daily reported Jan. 4, citing the Ministry of Housing and Urban-Rural Development. Assistance will range from 7.5 yuan ($1.2) to 9 yuan per watt, the newspaper said.
HSBC Holdings Plc said in a Jan. 3 report that China will become the world’s largest solar market in 2013.
“China is going to spend tremendous amounts of money on renewable energy, and they’ve dramatically raised their targets for the energy over the past two years,” Leeb said. “Solar stocks were down last year and the industry is growing.”