Algae good or bad???

Hey there,
My tank has just finished its initial cycle, and its absolutely covered in a green algae, its around one cm in length and has covered all my live rock.
Is this bad or good, i have added hermit crabs and turbo snails and they seem to be munching away on it.
Will they be enough to keep it at bay?
My lights are on for around 12 hours a day, 8 in the morning till 8 at night.
Is this too long? would cutting the hours of light stop the algae growing??

Really not sure what to do??

Please help!!??

 

i would cut your photoperiod down to around 8 hrs for a while..that should help some along with the hermits and turbos

edit: you could even black your tank out for a few days if you want to since you just finished your cycle..i doubt you have any corals yet

 

And pay careful attention to your nutrients. NO3 and PO4 are needed for algae. Silicates for diatoms. Eliminate those and you eliminate the problem.

 

Can you tell us a little about your tank. I see it's a new tank.
How old?
What type of lighting?
How much are you feeding?
Are you using RO/DI water?
If you have access to a sea hare it would wipe it out. Some people around here sell the hare after it mows down the algae .. but of course you need to get to the root of the problem.
What are your NO3 and PO4 readings?