Itc Solar Panel Tariff

The solar energy industries association also didn t immediately respond.

Itc solar panel tariff.

International trade commission itc after two solar manufacturers suniva and solarworld filed a petition seeking tariffs. Suniva and solarworld have asked for a 0 40 watt tariff on imports. The first 2 5 gigawatts of imported solar cells will be exempt from the tariffs trump said in a statement monday. All in all the tariffs are still dropping by about 5 a year the itc is still available and so far with the bifacial panel tariff exemption still in effect.

The april proposal calls for itc to develop a tariff and floor price on imported crystalline silicon photovoltaic solar panels. Thin film solar panel manufacturer first solar whose technology is exempt from tariffs saw its stock price spike in response to the itc news. The us trade representative s january ruling was based on recommendations from the us international trade commission and adds a 30 percent tariff on solar cells and modules increasing the cost. Imported solar panels and cells are taxed under section 201 of the trade act.

This decision came on the heels of a nearly 9 month case before the u s. First approved in 2018 the tariffs currently stand at 20 and will drop to 15 in 2021 before fingers crossed ending in 2022. 23 2018 president trump signed a proclamation that placed tariffs on imported solar cells and modules for a period of four years. There is still a remainder of the itc by next year it will reduce to 26 then 22 the next year then no more residential itc.