What You Need to Know
Under Section 201 of the Trade Act of 1974, Suniva (a solar manufacturing company) filed a petition in 2016 with the US International Trade Commission (US ITC) to launch a global investigation into the potential threat of imported solar panels on domestic solar manufacturing. Suniva filed this on the heels of bankruptcy and petitioned for a tariff on imported solar panels.
On January 22nd, 2018, President Trump approved this Section 201 tariff on foreign made solar modules. This is a 30% tariff on imported solar modules, which constitutes about 80% of the total panels installed in 2017.
What are the Details?
It’s important to note this is a tariff imposed on foreign made solar panels and NOT on the entire cost of a solar PV system. The tariff is effective February 7th, 2018, starts at 30% for year 1 and declines by 5% per year for an additional 3 years. There is an option to extend or expire the tariff at the end of the 4th year.
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We Are Prepared.
At RGS Energy, we have been preparing for this outcome for quite some time now. In preparation, we secured a significant number of panels at pre-tariff pricing to ensure only minimal increase is passed to our customers in the near future. As America’s Original Solar Company®, we have leveraged our long-standing procurement and supplier relationships to further minimize any future overall price increases associated with the tariff. We have continually been educating our employees and sales persons regarding the implications of this tariff, in order to best inform you.
What Does This Mean For You?
In the immediate future, prices will only slightly increase due to our strategic supply management. However, if you are considering solar, now is the time! We do not know how suppliers will adjust pricing in the future, but we expect it will continue to increase. Now is the best time to consider solar with RGS Energy, to ensure you are not affected by any future price increases.
We see this as a challenge to the American solar industry. However, we will continue to maximize our efforts and leverage our longevity as America’s Original Solar Company and maintain our strong relationships with manufacturing partners to provide the most value for our customers. We remain committed to providing solar energy contributing to a sustainable, clean future.
If you have any questions or would like to speak to one of our Energy Advisors, please call us at 888.56.SOLAR or submit a request for us to contact you by filling out a form here.