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In the biggest blow he’s dealt to the renewable energy industry yet, President Donald Trump decided on Monday to slap tariffs on imported solar panels.
The U.S. will impose duties of as much as 30 percent on solar equipment made abroad, a move that threatens to handicap a $28 billion industry that relies on parts made abroad for 80 percent of its supply. Just the mere threat of tariffs has shaken solar developers in recent months, with some hoarding panels and others stalling projects in anticipation of higher costs. The Solar Energy Industries Association has projected tens of thousands of job losses in a sector that employed 260,000.
President Trump Slaps Tariffs on Solar Panels in Major Blow to Renewable Energy
U.S. panel maker First Solar Inc. jumped 9 percent to $75.20 in after-hours trading in New York. The Tempe, Arizona-based manufacturer stands to gain as costs for competing, foreign panels rise. First Solar didn’t immediately respond to a request for comment. The Solar Energy Industries Association also didn’t immediately respond.
The tariff is on imported solar panels. If you do not want to pay the tariff, buy panels made in the USA.
originally posted by: Southern Guardian
You didn't bother reading the OP did you?
These tariffs are only targeting the importation of solar panels and other renewals.
Oh, wait....there are American renewable energy producers that will benefit?
Just the mere threat of tariffs has shaken solar developers in recent months, with some hoarding panels and others stalling projects in anticipation of higher costs. The Solar Energy Industries Association has projected tens of thousands of job losses in a sector that employed 260,000.
The decision effectively will cause the loss of roughly 23,000 American jobs this year, including many in manufacturing, and it will result in the delay or cancellation of billions of dollars in solar investments.