Solar stocks fell Wednesday as analysts said solar cell makers with heavy exposure to silicon prices or the Spanish market could be at risk.
Calyon Securities analyst George Kotzias said in a client note that so-called thin-film technology stands to gain on silicon _ long the key ingredient in solar cells _ because thin-film technology is less expensive than silicon.
Whereas thin-film had a 12 percent market share in 2007, that could grow to about 20 percent in 2008, he wrote.
Among the companies that make solar cells with silicon are SunPower Corp., JA Solar Holdings Co. Ltd., LDK Solar Co. Ltd., Trina Solar Ltd., Canadian Solar Inc. and Yingli Green Energy Holding Co. Ltd., Kotzias said in a telephone interview.
Meanwhile, Lehman Brothers analyst Vishal Shah said in a client note Tuesday that companies with high exposure to the Spanish market could be hurt if authorities follow Germany's lead and cut subsidies, potentially reducing demand.
He listed Canadian Solar, Suntech Power Holdings Co., Solarfun Power Holdings Co. Ltd. and Yingli.
Shares of SunPower fell 67 cents to $78.52. First Solar fell $14.44, or 5.6 percent, to $242.88. Yingli Green Energy fell $1.36, or 6.7 percent, to $18.97. Suntech Power Holdings Co. Ltd. fell $1.45, or 3.6 percent, to $38.96.
(This version corrects the status of solar companies, 4th graph.)
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