U.S. Tariff on Imported Solar Energy Components Could Benefit Canadian Renewables Developers
U.S. President Donald J. Trump approved tariffs on imported solar energy components and large washing machines Monday, January 22, 2018, in an effort to buoy U.S. manufacturers.
Mr. Trump approved recommendations by the U.S. International Trade Commission to impose the tariffs. Most imported solar modules will face an immediate tariff of 30 percent, with the rate declining and phasing out after four years. Countries affected by the decision can appeal to the World Trade Organization.
The new U.S. trade measure may be favourable to Canadian renewable energy developers. Specifically, the tariff could increase the supply and lower the price of solar components for Canadian developers bidding into domestic renewable energy procurements, including in Alberta and Saskatchewan.