Analysis warns that the cost of an everyday household item may surge by over 60% — here's what could happen
If the U.S. government approves newly proposed tariffs on Southeast Asian imports, solar panel prices could rise by two-thirds.
With this dramatic cost increase, solar project progress would be stunted and far less profitable for companies working to advance clean energy goals.
What's happening?
Reuters reported that Clean Energy Associates studied the impact of the proposed tariffs and how they will threaten America's solar plan. The supply chain advisory firm investigated how much solar cells and modules from Thailand, Malaysia, Cambodia, and Vietnam would cost.
In April, major solar equipment manufacturers asked Biden's administration to impose new tariffs on imports to protect U.S. factories and billions of dollars in domestic investments. Southeast Asian countries have been criticized for flooding the American market with much lower prices than U.S.-made solar panels.
According to a new Clean Energy Associates analysis, the new tariffs could increase the cost of U.S.-produced solar panels by 45% and imported panels by 66%.
To complicate matters further, there is no domestically produced cell supply in America, so the U.S. must depend on Southeast Asian solar cell imports.
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Why are solar panel tariffs important?
These massive cost increases for solar panels are counterproductive for expanding the power and reach of clean energy. The tariffs set the U.S. back on its established climate goals and diminish hope that solar power can replace gas, coal, and other polluting energy sources.
With solar energy, we can generate our own electricity using the sun's power without producing harmful carbon pollution, which contributes to rising temperatures and extreme weather.
Scientists have been researching how to make solar technology more efficient and developing incredible breakthroughs for energy storage. However, if the U.S. approves these tariffs on imported solar equipment, the costs may become too high to expand projects and put those innovations to any feasible use.
What's being done about clean energy policy?
Environmental advocates have been bringing significant attention to the fact that these tariffs conflict with the Biden Administration's climate goals, putting pressure on the Administration to rethink policies that stand in the way of achieving a cleaner, greener planet.
As the Tax Policy Center pointed out, such tariffs would likely increase consumer prices, cause fewer jobs for American workers, and extend Americans' reliance on dirty energy.
One of the best things you can do as a citizen and consumer is to stay informed about energy policies by educating yourself about critical climate issues and sharing the facts with people you know.
Armed with the latest updates, you can advocate for clean energy more accurately and knowledgeably and then make your opinions heard by contacting elected officials who represent you in government.
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Analysis warns that the cost of an everyday household item may surge by over 60% — here's what could happen first appeared on The Cool Down.
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