President Donald Trump has introduced a four-year subsidy plan for US solar panel manufacturers. Since 2018, a duty of 30% has set for all imported solar panels and equipment from China and other countries. In practice, this was supposed to stimulate the American market and lead to the popularization of the domestic product.
In practice, the situation has a slightly different character. According to the SEIA report, lost investment in the industry will amount to 10.5 gigawatts, and imported panels will cost America 62,000 jobs or about 19 billion dollars.
However, the Trump administration called it fake news that has nothing to do with reality. In the SEIA report, there are quite negative forecasts about in which vector the US Solar industry will develop. According to statistics in America, 62,000 fewer jobs will create due to industry duties and new directives from the country’s leadership. According to Abigail Ross Hopper, president of SEIA, the solar industry will lose much more from this policy, which will lead to negative consequences.
The specialist also compared the situation with electricity and the coal industry. It was never taken into account by the administration of the trump. As for the White House, state representatives criticized the report calling it too pessimistic and those that do not apply to reality. According to statements by Peter Navarro, Trump’s trade and manufacturing advisor, this report is too negative in color and does not correspond to reality. According to Navarro, the new tax is designed to stimulate the US industry and limit the import of imported solar panels from China.
It is worth noting that the restriction on the import of goods from China is part of the Trump administration policy. This situation aimed at restricting the import of Asian products and stimulating the American industry. Remember that cheap solar panels from China have become popular in the United States due to an overabundance of equipment in the Middle Kingdom. It is because of this that affordable solar equipment has become available to many installers and companies in the United States.
In the wake of this bill, many US companies and installers said that this would lead to bankruptcy or a significant reduction in revenue. Many company representatives believe that without cheap solar panels from China, competition in the US market is simply impossible. It is worth noting that US electricity tariffs are one of the most expensive in the world. The current policies of the White House and the head of state can significantly reduce the income of American companies and affect the availability of electricity for ordinary citizens.