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New Solar Tariffs Imposed

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fossbeta.com / FossBeta

Ideliya Khismatova, Staff Writer

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President Trump recently imposed a tariff on solar energy panels due to the low prices and innovations from imported solar cells.

This tariff starts at 30 percent in 2018, then drops to 25 percent in 2019, 20 percent in 2020, and finally 15 percent in 2021. The main reason for this imposition is because 95 percent of all solar panels in the US are imported, with more than half coming from South Korea and Malaysia.

By imposing the tariff, many people think that this move will jeopardize US jobs and decrease the number of employees working for the companies. By having low prices on high-quality solar panels from their importation, the US solar panel industry had an advantage over more expensive energy sources such as wind and natural gas, but now the prices may have to increase.

Thomas Werner, chief executive of SunPower, testified before the International Trade Commission by stating, “Tariffs would adversely impact the U.S. economy, burden domestic manufacturers and suppliers of other key components, raise prices for customers, and eliminate tens of thousands of jobs.”

The new solar tariff may be tedious in the present, but has promise to improve the economy in the future.

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New Solar Tariffs Imposed