TapForMobile

Trump's Solar Tariffs Won't Kill the Industry


Executives at solar energy companies in New Mexico say this week's decision by President Donald Trump to impose a tariff on imported solar cells will slow the installation of new systems and kill jobs in the state.

Trump campaigned on a promise to revive the ailing coal mining sector and boost USA production of other fossil fuels as a way to create jobs and bolster American influence overseas.

According to Goldman Sachs, the upshot is that solar demand in the USA could see a reduction of 5 percent this year, although a steeper drop off is possible if some projects are delayed into 2019. "So while a solar panel tariff will create some manufacturing jobs in the few hundreds, there are tens of thousands of jobs that will be lost because of the increase in the cost of solar panels". The first shows which nations lead in manufacturing of the most popular kind of solar panel-those comprised of crystalline silicon produced in furnace-like ovens and sliced into wafer-thin cells by diamond saws.

BNEF doesn't expect the tariffs to benefit USA manufacturers, partly because they only last a few years, according to Hugh Bromley, an analyst at the London-based research arm of Bloomberg LP.

She said that "only strong global trade with open markets provides growth, jobs and innovation".

Analysis provided to ThinkProgress by GTM Research concludes, "new and emerging state markets are disproportionately affected [by the new tariff], with southern states like Texas, Florida, Georgia, and SC amongst the most impacted by the tariffs".

Missouri's largest solar company's warehouse is full of materials proudly labeled with the red, white, and blue; Except for a 3 month supply of solar panels neatly stacked in the corner.

Trump acted Tuesday to impose new tariffs on imported solar-energy components and large washing machines in a bid to help US manufacturers. First, the panels themselves represent just a fraction of the overall cost of a solar project.


"The investment tax credit for solar is 30 percent of capex [capital expenditure]", Amy Grace, head of North American research for BNEF, explained - so 30 percent of any tariff-driven price increase gets paid back through the tax code.

A spokesman said the administration would "always defend American workers, farmers, ranchers and businessmen".

The main beneficiaries include USA -based solar manufacturers Suniva and SolarWorld - both controlled by foreign parent companies. "The penetration of solar in the USA will continue".

"The rooftop sector of the industry will lose jobs like installers and utility programs will lose investors because the time it takes for costs to payback will be doubled", Crystal said. "This is a step forward for this high-tech solar manufacturing industry we pioneered right here in America".

No, but some projects will feel the impact more than others.

We also note that the real impact of the Solar Tariff may be blunted by steps already taken by developers, contractors and investors in the second half of 2017.

They install 2 different brands of panels, some are from the United States, and some are not. "It is a very big industry and we are going to have a lot of plants built here in the United States", he said after signing legislation.

Related Articles

  • Will share vision for Indias global engagements at Davos: PM

    Will share vision for Indias global engagements at Davos: PM

    He said that India as a market is an attraction destination for global companies and world now wants to engage directly with India. "Yoga sessions would be held at the summit and at the Swiss Alps".
    Everton attacker deal confirmed by BBC Sport, undisclosed fee

    Everton attacker deal confirmed by BBC Sport, undisclosed fee

    He gave me the opportunity to springboard and score that many goals for the club, and no-one can take that away from me. Southampton are winless in 10 league games are a point and a place above the relegation zone while Tottenham are fifth.
    Russian Federation  teen held after attacking pupils with axe, setting classroom ablaze

    Russian Federation teen held after attacking pupils with axe, setting classroom ablaze

    According to preliminary information, in the morning of January 19 a schoolchild with an ax attacked the seventh grade students. The attacker, a ninth-grader student, hurled the bomb inside the classroom and waited by the door with a hatchet.
  • Indy Makes Top 20 List For Amazon HQ

    Indy Makes Top 20 List For Amazon HQ

    Khalil Rahal, the Executive Director of the Economic Development Corporation for Wayne County was on the call. In terms of logistics, travel time to an worldwide airport is significant. "It shouldn't be that way".
    Philadelphia 76ers: Joel Embiid is finally OVER Rihanna

    Philadelphia 76ers: Joel Embiid is finally OVER Rihanna

    It's been a breakout year for the Sixers , the team shows flashes of something special when Ben Simmons and Embiid play together. Embiid's message is pretty simple: If she didn't want me then, I'm not interested in her now.
    Johnson again in UAE for Abu Dhabi HSBC Championship

    Johnson again in UAE for Abu Dhabi HSBC Championship

    Fleetwood proved to be deadly accurate from tee to green, and admitted he was delighted to be so accurate so early in the season. England's Ross Fisher produced a seven-under-par round to move into the joint lead at the Abu Dhabi Championship.
  • Catalan separatist leader in Copenhagen: Spain wants him arrested

    Catalan separatist leader in Copenhagen: Spain wants him arrested

    However, the Catalan parliament's speaker said that Puigdemont was the only candidate chosen by parliament to rule the region. Spain's Supreme Court dropped an arrest warrant in December but the prosecutor applied for it to be reissued on Monday.
    Deadly fire engulfs Delhi firecracker factory

    Deadly fire engulfs Delhi firecracker factory

    The Delhi Fire Services received a call about the fire at the factory around 6.20 pm and 10 fire tenders were rushed to the spot. Ten women and seven men were killed, another fire official said, noting that a man and woman have been injured.
    Sen. Lindsey Graham tells president how to fix immigration system

    Sen. Lindsey Graham tells president how to fix immigration system

    The president and all those attending the meeting know what I said and how I feel. The alleged remarks sparked global outrage and demands that he apologise.
  • US Democrats accept compromise to end government shutdown

    US Democrats accept compromise to end government shutdown

    The White House and GOP leaders said they would not negotiate with Democrats on immigration until the government is reopened. Social Security and most other safety-net programs were unaffected by the lapse in federal spending authority.
    Tim Tebow gets an invite to Mets' major league spring training

    Tim Tebow gets an invite to Mets' major league spring training

    During his time with the Mets' Class-A affiliate, Tebow batted.220 with three home runs, 23 RBIs, 14 doubles, and a triple. Per the Mets' official Twitter account, Tebow was one of nine players invited to Major League Baseball camp.
    Schumer: 'Very Strong' Support Among Dems for Blocking GOP Budget Bill

    Schumer: 'Very Strong' Support Among Dems for Blocking GOP Budget Bill

    Trump said in September he was terminating the DACA program, begun by his Democratic predecessor Barack Obama, effective in March. As a stop-gap measure, the proposed short-term spending bill will fund the United States federal government through February 16.

Comments