Solano struck in the 87th minute but could have been penalised for three separate offences as he scored the goal that settled the Premier League clash.
The Peruvian appeared to kick the ball out of Niemi's hands before following through and kicking the goalkeeper, then the ball ricocheted in off his arm.
"I've seen it on the television," said Hodgson. "I can say nothing else. It was a clear foul and the goal should have been disallowed.
"You are not supposed to do these things these days.
"When you go two studs up in the goalkeepers face and cut him on the shoulder in the bargain, you are very unlucky if the referee says it was goal.
"It was a very sad way to lose a point. My opinion is that the team was good value for a point."
Fulham did create some chances, starting with Paul Konchesky's shot across the face of the goal that Robert Green saved, but the visitors shaded it.
Carlton Cole created problems as a lone striker and he or Luis Boa Morte could have given Alan Curbishley's men a half-time lead.
Diomansy Kamara had a penalty shout turned down when his effort struck Anton Ferdinand, then Clint Dempsey wasted a chance when he ran straight through but got no power on his shot.
Green also saved from Jimmy Bullard when the midfielder had a one-on-one opportunity.
"We have to keep going," Hodgson added.
"The performance today was one they can take credit for but when you have zero points from it doesn't help.
"I thought it was an even game but to win games you have to take your chances and we didn't do that."
Leon Andreasen was dismissed for two bookings, the second coming when he was protesting Solano's goal.
"If we don't protest things like that it shows you have no interest in winning matches," Hodgson said.
"I can't justify it but I can understand the frustration and that it boils over."
Curbishley did not get a clear view of the winner, adding: "From where I am it looks like he got a clean connection, but I don't know."