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|ReneSola Comments on U.S. Solar Products Tariff Ruling|
"While higher prices for the modules we buy are never welcome, the new tariff rate was widely anticipated," said
Hole continued, "We do not expect the temporarily higher prices of some modules to diminish the rapid growth of new development opportunities in the U.S. Community solar and rooftop distributed generation are two examples of the burgeoning activity we are pursuing. As module prices continue to decline over time, we expect to see accelerating activity in those segments. We remain very optimistic about the growth prospects for the solar energy industry, both in the U.S. and around the world."
Yesterday, the U.S. Trade Representative announced that U.S. President Trump approved the recommendation to impose safeguard tariffs on imported solar cells and modules. The relief will include a tariff of 30 percent in the first year, 25 percent in the second year, 20 percent in the third year, and 15 percent in the fourth year. However, the first 2.5 gigawatts of imported solar cells will be exempt from the safeguard tariff in each of those four years.
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