A proposed cap of 300 megawatts on subsidies for solar power projects in Spain would be a negative for the solar industry, Jefferies International analysts Michael McNamara and James Harris said in a note to clients on Thursday. The Spanish government signaled on Thursday that it'll submit a proposed solar incentive to maintain a 300 megawatt hard cap, with a reduction in some tariffs. "The imposition of the 300 megawatt hard cap on Spanish installations would be bad news for the solar industry as it prohibitively restricts the size of one of the key sources of demand at the same time that production capacity is expanding," Jefferies analyts said.
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