{"id":24391,"date":"2018-09-20T06:41:22","date_gmt":"2018-09-19T20:11:22","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=24391"},"modified":"2018-09-20T06:41:22","modified_gmt":"2018-09-19T20:11:22","slug":"sunpower-solar-tariff-exclusion-mb0753","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/sunpower-solar-tariff-exclusion-mb0753\/","title":{"rendered":"SunPower’s Reprieve From Trump’s Solar Tariffs"},"content":{"rendered":"

\"SunPower<\/p>\n

It was a happy day at SunPower HQ yesterday after the company’s solar panels were granted an exclusion from Trump’s solar tariffs, dodging what has been a taxing situation for SunPower both figuratively and literally.<\/p>\n

In January 2018, U.S. President Donald Trump gave the green light to punitive tariffs of as much as 30 percent to be applied to imported solar panels and cells, an action that became known as the \u201cTrump Solar Tax<\/a>,\u201d or “Trump Solar Tariffs<\/a>“. Its official name is the Solar Products Safeguard Measure, also referred to as Section 201 import tariffs.<\/p>\n

While the company is US-based, SunPower solar panels<\/a> are manufactured in Malaysia, the Philippines, Mexico1<\/a><\/sup> and China. In February, SunPower reported<\/a> a negative near-term impact from the effects of the import tariffs and that it would be holding off on some projects.<\/p>\n

The world’s top solar panel manufacturers<\/a> lined up for an exclusion from the tariffs – including SunPower, but there has been little joy for many. However, SunPower is dancing in the streets as IBC (interdigitated back contact) cells and modules are now excluded – which the company produces.<\/p>\n

\u201cWith today\u2019s decision that SunPower\u2019s highly differentiated IBC cells and modules are excluded from tariffs, we are able to turn the page,” stated<\/a> SunPower Chairman and CEO Tom Werner. \u201cSunPower can now fully focus our resources to deliver the best solar solutions to our customers, develop the next wave of solar technology through American research and development and invest in American solar manufacturing. This will support U.S. solar technology leadership and preserve American jobs.”<\/p><\/blockquote>\n

Mr. Werner also announced SunPower is moving ahead with its planned acquisition of the SolarWorld Americas<\/a> manufacturing facility in Hillsboro, Oregon and he expects the transaction to be finalised by the end of this quarter.<\/p>\n

SunPower’s shares soared on the news of tariff relief, closing 14.74% higher yesterday at USD $7.55. Enphase shares also jumped<\/a> as it now SunPower’s only microinverter supplier<\/a> for the company’s AC solar panels<\/a>.<\/p>\n

The new tariff exclusions<\/a> list:<\/p>\n