Use of solar power has witnessed immense demand in the last couple of decades or so, thus putting increasing onus encouraging people to utilize it as much as possible. This has also led to creation of numerous jobs in the global solar power industry, especially in the United States where use of this energy source is quite high. In spite of such developments, according to recent reports, the President of the United States, Donald Trump has given approval for a 30% solar tariff that would be carried out in a multi-year tiered manner.
Solar Tariffs – How would be the Industry Affected in United States?
The solar tariff is set to have a substantial impact on numerous Americans who have been working in this industry for considerable time. Due to the tariff set on imported solar panels and other components, the cost of solar power production and utilization by the middle-class American citizens is sure to skyrocket considerably. This might lead several business to lose out their already established positions in the market, thus leading towards reduction in investments for solar power based devices and components. From an overall perspective, the tariff rise is certain to spell doom for demand and production rates of solar panels, thus leading towards a change in business strategies applied in this industry.
In the first year after this additional charge is set, there will be a 30% tariff levied on imported solar cells and modules. This would be followed by a 25% tariff set in the second year, 20% in the third year and 15% in the fourth year. This decision was made by the administration on behalf of the defending American workers.
Regarding the status of the solar market in United States, North Carolina holds a leading spot in this context. Rather, according to the number of installed solar panels and other systems, North Carolina comes just after the California, as the number two leader in the solar industry.