A new government subsidy program for solar device installations failed to boost solar stocks yesterday, as the policy is not expected to significantly spur demand for solar equipment.
Shares of the nation’s top solar wafer chipmaker, Green Energy Technology Inc (綠能科技), fell by the biggest margin, dropping 6.91 percent to NT$182, while shares of the top photovoltaic solar cell makers, Motech Industries Inc (茂迪) and E-Ton Solar Tech Co Ltd (益通光能), dipped 4.76 percent and 2.35 percent respectively.
The government announced NT$2.05 billion (US$64 million) in subsidies this year and next year to defray the costs of installing solar panels and devices such as hot water heaters.
“The subsidy program will not be a sufficient incentive for households to install solar power systems,” said Arthur Hsu (胥嘉政), who tracks the solar industry for the Taipei-based Topology Research Institute (拓墣產業研究所).
A renewable energy bill that is awaiting legislative review, however, could provide a true boost, Hsu said.
The bill would allow the government to buy excess electricity generated by solar panels at private homes, Hsu said.
That could encourage installations, he said.
Solar companies export a major portion of their products to Europe, as the domestic market is still relatively small, he said.
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