US Overhaul on Trade Needed: First Solar CEO
- First Solar is advocating for trade enforcement as module prices reach record lows. Biden's duties on Chinese imports and US Inflation Reduction Act's new incentives could help strengthen US solar manufacturing. First Solar calls for a level playing field for fair competition.
First Solar, the biggest US panel maker, is advocating for increased trade enforcement as module prices are currently at record lows. This is being driven by the cost of materials dropping due to the addition of new polysilicon factories. The Biden administration has imposed duties on some imports from China to offset allegations of unfair pricing and subsidies since 2011. The US Inflation Reduction Act has also incentivised announcements for new US solar manufacturing facilities, which should help strengthen the panel makers’ hands. Widmar has called for the US to be accountable in its own strategic rationale and for a level playing field to ensure fair competition for its own domestic capabilities.
What Impacts Will Cameron Storage Have?
- The addition of Cameron Storage to the US solar industry is expected to help drive down prices further as the increased competition should result in more cost-effective products.
- The increased competition may also lead to an increase in quality and innovation in solar products, providing an expanded range of solutions to consumers.
- The addition of Cameron Storage may also help to stimulate job growth within the solar industry, providing more opportunities for those looking for career paths in the energy sector.
- The increased competition could also result in increased efficiency in the solar panel production process, as more companies enter the market and invest in new technologies and techniques.
- The Cameron Storage facility is expected to provide a boost to the US economy, as the increased competition could result in lower prices and increased demand for solar products.
- An increase in domestic solar manufacturing would also reduce the US' reliance on imported solar components, providing more security and stability to the solar industry.