Tariff On Imported Solar Panels Could Freeze The Renewable Energy Industry
Australia is in the best position to be able to harness the energy from the sun and convert it to green electricity. With 300 sunny days a year, households can reduce if not eliminate their electricity bills through solar power on the Gold Coast that will harness the unlimited potential of the sun’s energy.
Meanwhile, there is sad news for the renewable energy companies in the United States. Because of the tariff imposed by the Trump administration on imported solar panels, $2.5 billion worth of installation projects including thousands of jobs may be cancelled. This is more than double the $1 billion in new spending plans that have been announced by companies that are building and expanding their factories to take advantage of the tariff on imports.
The tariff will certainly hurt the solar industry in a way that is similar to how manufacturers of farm equipment were hit by the tariff on imported steel and aluminium. The tariff on imported solar panels that was announced last January was received with protests from the solar industry because it could freeze one of America’s fastest growing sectors.
According to Solar Energy Industries Association, solar developers were able to complete utility-scale installations that cost a total of $6.8 billion last year. Investments were driven by tax incentives and the drop in the cost of imported solar panels from China. The investments made solar power a strong competitor of natural gas and coal.
More than 250,000 workers are employed by the US solar industry. This is three times more than that of the coal industry. At least 40% work in the installation of solar panels while 20% are employed in manufacturing. Solar was on the point of being able to completely take off but GTM Research has recently lowered the 2019 and 2020 utility-scale solar installation forecast in the US by 20% and 17% respectively.
The best electricians in town offer the most affordable, reliable and environmentally friendly installation of solar power on the Gold Coast including maintenance. Electricians will ensure that the solar panels will run as efficiently as possible to be able to save on electricity costs per year.