President Trump imposed new tariffs on imported solar panels, delivering a blow to one of the America’s fastest gowning industries. The decision will unnecessarily increase the price of solar for utilities, corporations and individuals, negatively impacting power prices for all electricity customers.
The Trump Administration announced that it is imposing tariffs of 30% on imported solar panels and cells, declining by 5% per year over four years, with an exemption for the first 2.5 gigawatts of imports. The decision follows a recommendation from the International Trade Commission (ITC) in the Section 201 trade case brought by a bankrupt U.S. solar manufacturer with a Chinese majority owner.
“Trade barriers, such as those proposed by the ITC and the one ultimately selected by the president, needlessly make solar more expensive at a time when are seeing record low prices that make solar cheaper for consumers and provide benefits for the global environment,” said Paul Spencer, CEC founder and CEO. “The selected remedy needlessly increases the cost of energy for all Americans.”
The U.S. solar industry employs more than 260,000 Americans – including 5,000 in Colorado. These trade penalties put these jobs at risk and lead to a market disruption, adversely impacting this crucial industry.
Late last year, many of our elected officials voiced their opposition to misguided trade barriers. Governor John Hickenlooper joined three other Governors in a letter opposing the tariffs, Senators Gardner and Bennet joined 14 other senators expressing “deep concern”, and three members of Colorado’s Congressional Delegation joined 66 colleagues in a similar letter. The solar industry thanks these elected officials for their continued support.
“Solar has a bright future, and this hurdle will not stop us,” said Spencer. “We will continue gathering momentum through an even stronger and louder coalescence of solar industry and energy associations, executives, employees and customers; all working together to bring America access to low cost, clean energy.”