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The solar industry could be threatened by rising costs due to tariffs imposed by the Biden administration
A US solar industry group has warned that the pace of expansion could be slowed if the Commerce Department raises tariffs at a time when the administration is pushing hard for solar power.
The Solar Energy Industries Association, a Washington-based trade group, said in a report on Monday that it estimated that potential tariffs on some imports from Malaysia, Vietnam and Thailand would increase costs and cost jobs, Making solar installations in 2022 and 2023 nearly a third lower than previous projections.
Meanwhile, related data show that in the first half of this year, PV related products imported from these countries accounted for more than 80 percent of the total PV products imported to the United States. "This is the most serious threat to the industry that has been faced in the last 12 years," Strata Clean Energy Chief Executive Markus Wilhelm said in a speech at SEIA. He added that the additional tariffs come at a time when the solar industry is facing higher steel and freight costs.
The fight against worsening climate change depends on increasing the use of solar energy. A recent study by the U.S. Energy Department found that 40% of the nation's electricity could come from solar by 2035. Previously, solar installations in the United States had increased as costs fell.
Tara Narayanan, an analyst, said Monday that while the potential tariffs might not kill the industry, they "would make all solar end products more expensive."
George Hershman, president of Swinerton Renewable Energy, told the SEIA conference that some of the biggest solar producers had already said they would not deliver for now because of uncertainty over the new tariffs.
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