A MAJOR BLOW FOR THE RENEWABLE ENERGY INDUSTRY

Winchester, VA – Time reports that the United States dealt a major blow to the renewable energy industry yesterday in deciding to place tariffs on imported solar panels. Duties placed on foreign solar equipment could approach as much as 30%, which is devastating to a $28 billion industry which gets 80% of its parts abroad. Anticipating price hikes, some solar developers have been hoarding panels and others have been stalling projects. On the bright side, in after hours trading in New York, Arizona-based U.S. panel maker First Solar Inc.’s stocks jumped 9% to $75.20. President Trump explained that the first 2.5 gigawatts of imported solar cells will be exempt from tariffs, and although the four years of tariffs will begin at 30%, by the end of the term, they should be down to 15%.

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