The Trump administration just struck a huge blow against the USA solar industry, slapping tariffs on imported panels that could drive up the cost of new projects.
U.S. Rep. Steve Pearce, R-N.M., and a candidate for governor, supports the tariff, saying it will give American companies who want to manufacture solar panels a chance to do so.
22, the Office of the United States Trade Representative announced the Trump administration had approved a 30 percent tariff on foreign-made solar products.
On top of that, MIDF highlighted that inward flows from the U.S. fell for the first three consecutive quarters of 2017 in tandem with Trump's protectionist moves. The problem for the US solar industry is that it relies on cheaper imported panels for 80 percent of its supply.
The Solar Energy Industries Association, a trade group, estimates that the tariffs will eliminate 23,000 jobs this year and lead to the cancellation of billions of dollars' worth of solar investments.
Trump acted Tuesday to impose new tariffs on imported solar-energy components and large washing machines in a bid to help USA manufacturers.
The tariffs imposed could lead to higher costs for both products. First, the panels themselves represent just a fraction of the overall cost of a solar project.
It pointed to a conclusion reached by the United States International Trade Commission that washing machines exports from Mexico don't harm the USA industry.
However, the research house warned that the Trump administration is expected to impose tariff hikes on the steel and aluminium industries next as he continues the campaign to attract US-based companies to bring jobs back to Americans.
China, the world's biggest solar panel producer, branded the move an "overreaction" that would harm the global trade environment for affected products.
"The leading solar trade group predicted that the tariffs could cut forecasted solar installations this year by almost 20 percent, to 9 gigawatts from 11 gigawatts, and lead to the loss of 23,000 jobs in the United States, the world's fourth-largest solar market after China, Japan and Germany". Other manufacturers from Asia voiced similar sentiments. According to Global Times CCEER director Lin Boqiang, on the other hand, said the tariffs are not likely to have a great impact on the Chinese industry as the biggest driver for the same is domestic demand and not the USA market. With solar installations expected to top 100 GW across the world this year, costs should continue to fall, offsetting some of the cost increases related to the USA tariffs. BNEF figures suggest the cost of solar modules could jump 10 cents to 43 cents per watt - a sizable increase.
Research firm CFRA said it expects the tariffs to increase solar system prices by about $0.10 per watt.
But GTM's research finds that the tariffs will reduce US installations about 10 percent over the next five years.
The relief will include a tariff of 30 per cent in the first year, 25 per cent in the second year, 20 per cent in the third year, and 15 per cent in the fourth year.
"This is not a goodbye for renewable energy in the U.S.", Fatih Birol, executive director of the IEA, said at the World Economic Forum in Davos.
While Bell Labs in the USA invented the modern photovoltaic cell in the 1950s, the industry has flourished elsewhere since.
U.S. Sen. Martin Heinrich, D-N.M., has been one of the most vocal opponents of the tariff.
It remains unclear where city leaders have designated potential sites for Amazon's HQ2 within its greater Central Texas region. Among the 19 American finalists are New York City, Los Angeles , Boston, Chicago, Philadelphia and Washington, D.C.
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SiliconBeat asked YouTube parent Google how many videos the company has taken down so far, but the company has not responded. Along with the video site, Tide has also reminded people on their Twitter that Tide Pods are only used for "DOING LAUNDRY".
He has raised eyebrows with some off-field incidents but it's unfair to lump him with failed first-rounder Johnny Manziel. So they're not missing out on a ton, but it certainly does help to have all the exposure you can get to these prospects.
The government shutdown remains in effect Monday, after senators failed to come to an agreement to end it late Sunday night. The U.S. government has not been shut down since 2013, when about 800,000 federal workers were put on furlough.
Yemen is the world's worst humanitarian crisis, where 8.3 million people are dependent on food aid, according to the UN. However, it did not mention ending the restrictions on access to rebel-held facilities.
Owned by Facebook , the platform-agnostic messaging platform will perhaps charge larger firms to use the new business application. WhatsApp announced plans to begin allowing business accounts hoping to make more profit for their corporate parent, Facebook .
The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple . In a surprising turn of events, Apple's iPhone 8 was found to have outperformed the iPhone X during the holiday season 2017.
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Colin Firth Says He Won't Work With Woody Allen Again
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Pope Francis marries couple on papal plane
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Patty Schachtner Elected Wisconsin State Senator
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