Shares of Taiwanese solar power producers fell sharply Monday on news that Germany, the world's largest solar market, is likely to cut its subsidies for solar energy products and power early next year, dealers said. Institutional investors said that although most solar firms are still expected to post strong sales and profits in September and for the third quarter as a whole, the negative news still hurt local solar energy vendors. The news had been expected by most investors, but it still cast a cloud over the industry's outlook and triggered profit-taking pressure, they said. Green Energy Technology shares closed limit-down at NT$88.7, and Sino-American Silicon Products shares also fell by the maximum 7 percent limit to NT$89.8. Media reports quoted a German federal network agency as saying that new photovoltaic solar energy installations in the first eight months of the year had exceeded the number installed in all of 2009 as well as the target for 2010. As a result, Germany might slash solar subsidies by 13 percent next January. Meanwhile, a local photovoltaic solar association ran a half-page newspaper ad Monday to urge the government to fully implement the Renewable Energy Development Act. The association asked the government to further simplify administrative procedures to assist the public in installing solar equipment. 