White House confirms Biden’s order to exempt solar cells from Thailand As a result, the share price of solar cell manufacturing companies has soared.
White House confirms Biden’s order to exempt solar cells from Thailand As a result, the share price of solar cell manufacturing companies has soared.
The White House released a statement saying: US President Joe Biden has used his powers to issue a temporary protection order once morest imports of solar energy equipment. or solar panels from Thailand, Malaysia, Vietnam and Cambodia, which are classified as duty-free products for 24 months.
Biden also enacted the Defense Manufacturing Act (PDA) to encourage the US private sector to produce solar panels and develop clean energy. by receiving loans and grants from the government
The statement stated that Biden’s measure is meant to be a “bridge” as the US industry ramps up solar panel production. and pushing for President Biden’s clean energy policy
“Having a strong clean energy sector will make the US a stronger partner to our allies. especially while President Putin is at war with Ukraine,” the statement said.
The US photovoltaic sector welcomed Biden’s announcement of the measure.
“The action of the President is very necessary. Within two years, the US industry will be able to install more solar cells. And the enactment of the PDA will help the industry grow more,” said Abigail Ross Hopper, president of the Solar Energy Industry Association (SEIA).
President Biden issued such an order. following receiving complaints from the industry congressman and the U.S. governor on whether the Commerce Department’s investigation into imports of such devices helped China avoid U.S. tariffs. which, if true, will cause the retroactive tax to be charged up to 250%
“The investigation has brought the photovoltaic industry to a halt. And it will affect the US photovoltaic business and industrial workers. and will increase the cost per American household,” the letter said.
Using President Biden’s executive order on the matter, shares of U.S. solar panel companies Sunrun, SunPower, Enphase Energy, SolarEdge Technology and Array Technologies all jumped on Wall Street One. this
The United States imports solar panels from those four countries, accounting for 80 percent of total imports.
