Study Shows Tariffs are Crippling US Ability to Compete in Global Solar Industry
The solar panel tariffs have cost America’s solar industry dearly, according to a new analysis, with more than 62,000 jobs lost and almost $19 billion in investment down the tubes.
A study conducted by the Solar Energy Industries Association (SEIA), found job losses to be more than twice the number SEIA had previously predicted when the tariffs were first announced .
America’s solar industry “gets 80 percent of its solar panel products from imports, largely from China,” and the “nearly 25 percent tariff applies to all imported solar photovoltaic cells and modules, the main technology on panels that convert solar energy into electricity.”
Solar companies in the U.S. have warned that putting such a cramp on their ability to obtain necessary materials will likely lead the industry to move entirely overseas, which would hurt the U.S. economy even further.
“Solar was the first industry to be hit with this administration’s tariff policy, and now we’re feeling the impacts that we warned against two years ago,” Abigail Ross Hopper, president and CEO of the SEIA, said in a statement. “This stark data should be the predicate for removing harmful tariffs and allowing solar to fairly compete and continue creating jobs for Americans.”