As the Solar Power International conference continued Wednesday in San Diego, solar stocks continue to lose ground in the face of ongoing concerns about both the ongoing credit crunch and the possibility of a steep drop in pricing in 2009.

Deutsche Bank’s Steve O’Rourke observed in a research note Wednesday morning that while companies expect some negative impact from tighter credit in 2009, “quantification is presently impossible.” On pricing, he notes that most solar module companies continue to forecast a price decline in 2009 of under 10% - but he says that a drop of more than 20% is “increasingly likely.”