Trump Hands Down 30% Solar Tariffs
The news is in. President trump has announced that tariffs will be applied to solar panel imports. This is in result of the Section 201 Trade case brought forth by two U.S. based solar panel manufacturers.
Imported solar cells and modules will be subjected to the tariffs for a period of four years. The 30% tariff is less than the initial request by U.S. solar panel manufacturers of 50%, but it will still have strong implications on the growth of solar over the next four years.
Tariff Breakdown Over 4 Years:
Year 1: 30%
Year 2: 25%
Year 3: 20%
Year 4: 15%
What happens next?
The dispute will likely go to the World Trade Organization where opposing countries, like China, will challenge the tariffs as a violation of international law. Much like the ruling on steel imports in 2001, it is very possible that the WTO would eventually overturn the tariffs placed on solar panels coming to the United States.
What should Homeowners do Today?
With the 30% tax credit solar will still maintain viability in the home energy marketplace. Global solar panel manufacturers are already working on solutions and other countries will likely levy their own tariffs on U.S. imports in retaliation to President Trump’s decision.
Homeowners should take advantage of solar panel installation today, rather than waiting to see what effects, if any, the solar panel tariffs will have on the solar industry in the United States. During the last year solar panel prices have already seen increases in prices in preparation of the tariffs. It is unlikely that solar panel tariffs will ‘kill’ the solar industry but they could have some impacts moving forward. Sol Luna Solar has secured a healthy stock of solar panels in order to provide a period of stable pricing to the consumer. Customers should contact us immediately to secure these limited price offerings for solar panel installation.