Commerce Dept. Slaps Fat Tariffs On Chinese Solar Imports
In a preliminary ruling, the U.S. Commerce Department plans to slap 31%-250% anti-dumping tariffs on imported Chinese solar cells, according to a report from the Washington based newspaper The Hill. The move is in response a government finding that China is flooding the U.S. market with under-priced solar panels.
This is in some ways a mixed blessing for the U.S. solar industry: effectively barring China from the market is likely to boost solar panel pricing, and slow consumer and corporate adoption of solar power. So while it may be good news for U.S. solar panel companies, it is NOT good news for solar installation companies or consumers.
The Hill reports that the government will impost tariffs of 31.22% on Wuxi Suntech, 31.14% on Trina Solar, 31.18% on 59 other solar panel exporters and 249.96 on the rest of the Chinese solar panel makers. The levies apply to crystalline silicon cells and will be retroactive for 90 days.
A final decision in the case is expected in October.
The decision is predictably resulting in a split in U.S. listed solar stocks.
While China-based solar players are sliding…
- Trina Solar is down 52 cents, or 7.9%, to $6.08.
- Canadian Solar is down 14 cents, or 4.4%, to $3.02.
- Suntech is down 11 cents, or 4.9%, to $2.15.
- Yingli Green Energy is down 42 cents, or 13%, to $2.80.
- LDK Solar is down 9 cents, or 2.9%, to $3.
- JA Solar is down 5 cents, or 4%, to $1.19.
U.S.-based solar players are on the rise…
- First Solar is up 82 cents, or 5.9%, to $14.80.
- SunPower, also getting a boost from the news that it will be a supplier to large solar arrays Apple is building near its North Carolina data center, is up 50 cents, or 9.8%, to $5.58.
Article source: http://www.forbes.com/sites/ericsavitz/2012/05/17/commerce-dept-slaps-fat-tariffs-on-chinese-solar-imports/
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Categories: Fat Loss Diary Tags: China, First Solar, North Carolina, Trina Solar