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Report: Trump’s Tariffs On Solar Panels Cost The U.S. Over 62,000 Jobs

Report: Trump’s Tariffs On Solar Panels Cost The U.S. Over 62,000 Jobs
The solar panel tariffs imposed by President Donald Trump have cost America’s solar industry dearly, according to a new analysis, with more than 62,000 jobs lost and almost $19 billion in investment down the tubes.
The Hill reported that the study, conducted by the Solar Energy Industries Association (SEIA), found job losses to be more than twice the number SEIA had previously predicted when Trump first announced the tariffs.America’s solar industry “gets 80 percent of its solar panel products from imports, largely from China,” and the “nearly 25 percent tariff applies to all imported solar photovoltaic cells and modules, the main technology on panels that convert solar energy into electricity.”

Solar companies in the U.S. have warned that putting such a cramp on their ability to obtain necessary materials will likely lead the industry to move entirely overseas, which would hurt the U.S. economy even further.

“Solar was the first industry to be hit with this administration’s tariff policy, and now we’re feeling the impacts that we warned against two years ago,” Abigail Ross Hopper, president and CEO of the SEIA, said in a statement. “This stark data should be the predicate for removing harmful tariffs and allowing solar to fairly compete and continue creating jobs for Americans.”

Official White House Photo by Shealah Craighead/Public Domain

Source:  mavenroundtable.io

 

 

By:  Jake Thomas,  Dec 9, 2019

LINK:  https://mavenroundtable.io/theintellectualist/news/report-trump-s-tariffs-on-solar-panels-cost-the-u-s-over-62-000-jobs-Yfgn6rbWPUWX-ij1VSpjMQ/?fbclid=IwAR1UznrcvmDH_M72_E-JzvVm-0_jccRPPcDzcGA9Y08t073CZEqb0Z7NVz

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Full Report:

Trump solar tariffs cost 62K US jobs

More than 62,000 jobs and nearly $19 billion in new private sector investment has been lost due to the 2018 tariffs Trump placed on solar imports, according to the study by the Solar Energy Industries Association (SEIA). The number of jobs lost is nearly double the toll the SEIA first estimated when Trump announced the tariffs.

The $28 billion U.S. solar industry has been significantly affected by the tariffs. The industry gets 80 percent of its solar panel products from imports, largely from China. The nearly 25 percent tariff applies to all imported solar photovoltaic cells and modules, the main technology on panels that convert solar energy into electricity.

U.S. companies have warned that the high tax on importing the necessary solar materials will lead the industry to move fully oversees, hurting American business even more.

“Solar was the first industry to be hit with this administration’s tariff policy, and now we’re feeling the impacts that we warned against two years ago,” said Abigail Ross Hopper, president and CEO of the SEIA, in a statement. “This stark data should be the predicate for removing harmful tariffs and allowing solar to fairly compete and continue creating jobs for Americans.”

Some solar companies had at first hoped for exemptions to the rule. The Trump administration in June announced it was granting an exemption to bifacial solar panels, specialty panels that absorb sunlight on both sides, but months later revoked the waiver.

The new findings come the same week that the U.S. International Trade Commission is conducting its midterm review process for the tariffs. The Thursday review follows a complaint from solar company Suniva and will look at the effects of the tariffs on the industry from January 2017 to the end of the planned tariff lifecycle in 2021.

The group additionally estimated that the tariffs cost the U.S. more than $10.5 million per day in unrealized economic activity. From a climate perspective, the SEIA also estimated that reduced solar panel deployment activity in the U.S., stemming from the tariffs, would increase emissions equivalent to 5.5 million cars.

The SEIA estimated that the tariffs are largely hurting solar companies located in the nascent markets of Alabama, Nebraska, Kansas and the Dakotas.

LINK:  read:https://thehill.com/policy/energy-environment/472691-analysis-trump-solar-tariffs-cost-62k-us-jobs

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