President Trump’s Tariff on Solar Energy
All the attention is now on Solar Energy and Renewable Energy due to President Trump’s Recent Tariff on Solar Panels and Washing Machines. We wanted to address what actually is true about President Trump’s Monday announcement, and how and why you shouldn’t shy away from a Solar PV System Installation as a result.
First OFF — What Was Announced?
Back in September of 2017, The International Trade Commission made a ruling that stated that American Companies were being hurt by solar panels from overseas. Among the companies affected were SolarWorld Americas and Suniva — both of which operate within the United States but are foreign owned.
CRYSTALLINE SILICON PHOTOVOLTAIC CELLS (WHETHER OR NOT PARTIALLY OR FULLY ASSEMBLED INTO OTHER PRODUCTS)
The U.S. International Trade Commission (USITC) today determined that increased imports of crystalline silicon photovoltaic cells (whether or not partially or fully assembled into other products) are being imported into the United States in such increased quantities as to be a substantial cause of serious injury to the domestic industry producing an article like or directly competitive with the imported article.
The determination was made in the context of an investigation initiated on May 17, 2017, under section 202 of the Trade Act of 1974 (19 U.S.C. § 2252) in response to a petition filed by Suniva, Inc., and supported by SolarWorld Americas, Inc.
The Commission’s determination resulted from a 4–0 vote.
Information about this investigation and global safeguard investigations in general can be found here.
30 % Tariff on Solar Panels & Solar Cells Coming into the U.S.
Since this ruling, President Donald J. Trump has signed a 30 percent tariff into effect on all Solar Panels & Solar Cells coming into the country. This decision is aimed at creating more competitive advantages for US-made solar panels.
The solar industry has been booming as a result of acquiring these panels from overseas and then selling them to homeowners in America. This big decision has massive ramifications for America’s 29 billion solar industry, which as solar panel costs have come down, have been seeing huge growth over the last decade. These Solar Energy Companies are concerned that this will raise the cost of solar installations, which will in turn hurt future projects or installations and future growth in the industry or for these solar companies as a result.
Donald Trump isn’t the only solar power protectionist
The United States, the European Union and India are all slapping tariffs on Chinese solar panels, accusing Beijing of dumping. Does this trade war risk killing the nascent solar power industry?
Why You Shouldn’t Shy Away From Solar Even Amongst These Tariff Concerns
These Tariff talks and signatures has people reeling back and thinking twice about installing Solar PV Panels as a result. Some Solar Energy companies don’t want to give out quotes at this moment — because they are afraid that the Tariffs will cause a huge spike which will upset any projects that they set forth.
But think about it … Now is the time to go PINGO SOLAR. We are currently housing Solar Panels, DC Inverters, and Solar Cells in our warehouses within the United States and are committed to getting you into a solar energy system with quality equipment at an amazing deal, without the Solar Tariffs even having an affect. There is a 30% rebate in most states and regions which you can capitalize on, giving your solar installation quite the reduction in price. Add to this that Solar Panels and the Solar Industry has come down on it’s price point over the last 10 years. So act now. Get a free Quote!
With Utility companies acting as monopolies, and forcing their ratepayers to pay more and more towards their already high electric bills, going solar is just a responsible decision which helps you invest in harvesting your own energy. Let’s get you Energy Independence. Free yourself from the grid.
And now here’s the kicker — Come Check out Pingo Solar. We are a group of technicians and professionals committed to delivering each and everyone of our clients an extraordinary experience and a quality product when it comes to Solar Energy Systems which doesn’t break the bank. Here at Pingo Solar we have been getting most of our clients into Solar Energy Systems for less than the cost of what they were paying their Utility Company. Why Go Solar? — Top 10 Benefits of Solar Energy
Dumping Clauses
Both Washington and Brussels have long accused Beijing of ‘dumping’ solar panels into their markets, selling them at below production costs in order to kill their competitors in other markets. The EU first imposed tariffs on the panels in 2013. At the time, Chinese solar panels made up a third of EU sales.
Why has China gotten such a lead in this field? It isn’t just because of the alleged dumping — the effects of which have had economists split. Years of proactive government policy in renewables meant China met its 2020 solar power targets three years early, leaving it free to export the excess production.
LG & Samsung have announced that they are building new plants in America. Whirlpool is also looking
Samsung, meanwhile, has opened a U.S. factory, while LG is building one. “It’s a very big industry, and you’re going to have a lot of plants built in the United States that were thinking of coming, but they would’ve never come unless we did this,” Trump said after signing the proclamation on Tuesday.
Germany’s electrical industry association was sharply critical. The tariffs “could trigger a downward spiral that ends up with only losers,” the group said. “This cannot be in the interests of the industry or the consumer.”
Stay or go? The two sides of NAFTA
What’s working for and against President Trump pulling out of the most important trade pact ever reached for U.S. agriculture.
“With a narrow margin for Republicans in the Senate and the risk of losing seats in the House, a disruption in trade due to NAFTA would be politically troublesome,” says Bill Lapp, president of Advanced Economic Solutions.
Aluminum & Steel Tariffs
President Donald Trump has received the findings of a government study into U.S. aluminum imports that could result in tariffs or quotas and provide a boost to domestic producers.
Concerns about Mexico, Canada, Vietnam and other countries dumping cheap or inexpensive products into the United States, and spinning markets into a frenzy to compete at a low cost — America has shifted how people are allocating resources and how they are buying products — and whether or not those products come from US companies or foreign companies. This doesn’t come as a big surprise, as this is all inline with President Trumps aim to protect US businesses, and to put America First.
Whether or not the President would back off on the Aluminum & Steel Tariffs, we do not no for sure. Now he is off to Davos, Switzerland, where everyone is wondering how these new tariffs will affect the talks at the World Economic Forum.
