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L. Coyote

(51,129 posts)
Fri Jan 26, 2018, 02:52 PM Jan 2018

Solar company puts hold on $20M US investment following new tariff

Source: By Miranda Green - 01/26/18 12:31 PM EST

U.S.-based solar energy company SunPower announced it's putting a hold on a $20 million plan to expand factories and create hundreds of new jobs in the U.S. until it can guarantee an exclusion from the new federal solar technology tariff, according to Reuters.

SunPower's decision to halt its growth in California and Texas follows President Trump's announcement Monday that a 30 percent tariff would be placed on all imported solar technologies.

The administration said the decision would protect American manufacturing jobs but some solar companies, like SunPower, argued that it will hurt their bottom line and result in fewer jobs in the industry.

The tariff was seen as a major blow for America's $28 billion solar industry, which gets about 80 percent of its solar panel products from imports.

Read more: http://thehill.com/policy/energy-environment/370895-solar-company-puts-hold-on-20m-us-investment-following-new-tariff






Trump's 30-percent solar panel tariff could eliminate 23,000 US jobs | Engadget Today

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Solar company puts hold on $20M US investment following new tariff (Original Post) L. Coyote Jan 2018 OP
This story is getting little attention (from what I can tell) in the MSM. lapfog_1 Jan 2018 #1
A big win for the extractive industries backing the Dotard bigbrother05 Jan 2018 #2
Trump's American shithole to be dug even deeper Wwcd Jan 2018 #4
Texas has some big solar investments caught up in this. Wwcd Jan 2018 #3
Trade wars always backfire. Dawson Leery Jan 2018 #6
Curiously, Sunpower is majority owned by Total, the French energy conglomerate... TreasonousBastard Jan 2018 #5

bigbrother05

(5,995 posts)
2. A big win for the extractive industries backing the Dotard
Fri Jan 26, 2018, 02:59 PM
Jan 2018

Make renewables more expensive and kill their job prospects. That will definitely MAGA

With fewer cyclic power sources, no need to improve storage technology

He was right, I'm tired of winning

 

Wwcd

(6,288 posts)
3. Texas has some big solar investments caught up in this.
Fri Jan 26, 2018, 03:48 PM
Jan 2018

This from Nov 2017:
The threat was already in motion last fall. Trump had 60 days from then to make the decision on tariffs. The decision he just did.

https://www.dallasnews.com/business/energy/2017/11/09/100-million-texas-solar-project-hold-trump-administration-threatens-tariff

$100 million Texas solar project on hold as Trump administration threatens tariff


Snip
Although the commission ruled that action was needed, its range of proposals didn't satisfy Suniva. The company had asked for tariffs that could have translated to 50 percent or more for some components.
"The remedy recommended by the ITC is disappointing because it will not heal the damage suffered by this American high-tech manufacturing sector from what has been a tidal wave of imports," according to the company's statement. "The ITC's remedy simply will not fix the problem the ITC itself identified, and with it, we'll see very shortly the extinction of what remains of this manufacturing sector ..."

Tariff supporters have argued this would create new U.S. manufacturing jobs that were killed by foreign subsidies.
Opponents have said that's a small percentage of the U.S. solar market and higher costs will cost far more jobs — as many as 88,000 — than it would save.

TreasonousBastard

(43,049 posts)
5. Curiously, Sunpower is majority owned by Total, the French energy conglomerate...
Fri Jan 26, 2018, 04:02 PM
Jan 2018

Nonetheless, another example of Trumpian shortsighted business understanding.

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