US Solar Tariff Impact
It’s been about a year since Trump enacted a 30% tariff on solar imports to the US. Although it is set to last 4 years, each year is planned to decrease by 5%; in 2021 the tariff will be 15%. Hopes to benefit domestic manufacturers and residential solar projects are among the expected advantages. However, the high rate caused large scale developers to pause or cancel planned projects of $2.5 billion. This hold on utility scale arrays could dent advances the US made using these renewable sources. Research also shows the average consumer had a price increase for a standard system. Preceding the tariff’s implementation, costs had been falling. They are again decreasing but, at a lower rate. Ideally, the hope is to get back on track to at least the rate of decline prior to the tariff.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan, Indiana and Ohio. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.
Realgy owns and operates 7 solar plants in Illinois and is looking to invest in additional locations.
Additional information:
https://www.utilitydive.com/news/trump-issues-30-tariff-on-solar-panel-imports/515265/
https://news.energysage.com/2018-us-solar-tariff-impact-prices/