Some U.S. solar companies could get a lift after the Trump administration announced it will impose tariffs on bifacial solar panels, Kallanish Energy learns.
This special type of panel, which absorbs light on both sides, will be subject to a 25% tariff beginning Oct. 28.
Bifacial panels absorb more power and are therefore more efficient. But they are still in the early stages of development as manufacturers try to find cost-effective ways to fully utilize both sides of the panel, CNBC reported.
Tariffs on solar imports have been in place since January 2018, but this past June the Trump administration announced bifacial panels would be exempt from the import tax, so the sudden reversal of the exemption on Friday was somewhat of a surprise.
There was a production increase of bifacial panels following the tariff exemption announcement in June, which prompted the trade department to ultimately reverse its decision, CNBC reported.
“After evaluating newly available information … demonstrating that global production of bifacial solar panels is increasing, that the exclusion will likely result in significant increases in imports of bifacial solar panels, and that such panels likely will compete with domestically produced monofacial and bifacial CSPV products in the U.S. market, the U.S. Trade Representative has determined, after consultation with the Secretaries of Commerce and Energy, that maintaining the exclusion will undermine the objectives of the safeguard measure,” the Office of the U.S. Trade Representative announcement said.
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