Reuters: The tariff exemption applies to panels from Cambodia, Malaysia, Thailand and Vietnam and will serve as a “bridge” while US manufacturing ramps up, the White House said.
Shares in US solar companies including SunPower Corp, Enphase Energy Inc and Sunrun Inc climbed after Reuters earlier reported that Biden would issue a proclamation that ensured panels accounting for some 80 percent of US
imports would not face tariffs, which could have been levied retroactively as part of a Commerce Department probe.
The move comes in response to concerns about a freezing of solar projects nationwide and the resulting impact on the administration’s plans to fight climate change. The investigation, announced in March, is considering whether solar panel imports from the four countries were circumventing tariffs on goods made in China.
The probe had prompted the largest solar trade group to cut its installation forecasts for this year and next by 46% as developers including NextEra Energy Inc, Southern Co warned of major project delays.
The White House said the Defense Production Act would also be used to expand manufacturing of building insulation, heat pumps, transformers, and equipment for “clean electricity-generated fuels” such as electrolyzes and fuel cells.