Important news in the solar panel industry and the installation of commercial solar panels. n an expected move against the U.S. solar energy industry, on January 22, 2018, the Federal Administration imposed steep tariffs on all imported solar panels. The step is expected to eventually raise the price of residential and commercial solar panels in the U.S. for years to come.
The first 2.5 gigawatts of imported solar panels – approximately 2 to 3 months worth in the U.S. – will be exempt, but thereafter a 30 percent price increase will be assessed on all imported panels. In 2019, the tariff decreases to 25 percent and ultimately to 15 percent in year four. The 30 percent increase is significant and will eventually result in higher prices in residential and commercial solar panels. Solar power system prices will have to rise to make up for these tariffs in the U.S..
The expectation of tariffs alone had already caused residential and commercial solar panels costs to increase in recent months, with some installation companies hoarding panels. Major solar energy industry associations project job losses in the solar sector. Today U.S. solar related companies employee over 300,000.
The tariff was intended to raise the costs of cheap imports, particularly from Asia, and level the playing field for those who manufacture panels domestically. Although the tariff only applies to foreign-made panels, U.S. panel manufacturers are expected to follow suit and voluntarily increase their prices in the coming months. The end result will be that all residential and commercial solar panels sold in the U.S. will cost more at some point in 2018 through 2021.
The explosive expansion of solar in the U.S. in the past few years is directly tied to the drop in solar panel prices. The solar tariff is expected to slow solar installations, but the industry will continue to rise in 2018 through 2021. The net effect is that approximately 11 percent fewer panels are expected to be installed in the U.S. during that time, as the cost of a solar power system will likely see a 10 percent increase. Some if not all of this price increase will eventually be passed on to consumers. Some in the industry speculate that residential installations will be effected more than commercial solar panels installations.
LifetimeSolar, in anticipation of the tariff, purchased numerous containers of U.S. made solar panels at pre-tariff prices. LifetimeSolar has a sufficient supply of American-made solar panels on hand for purchase and install. The panels are available to our customers on a first-come first-served basis. Once they are gone, solar power system pricing may increase. If you have been considering solar, now is the time. Prices have never been lower and they could be increasing for years to come.
If you are interested in finding out more, please call LifetimeSolar today and ask for a free estimate for your home or commercial solar panels. Telephone: 888.477.8869 | Email: firstname.lastname@example.org | https://www.lifetimesolar.com
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