First Solar Jumps After Report Says Biden to End Trade Loophole
(Bloomberg) -- First Solar Inc., the biggest US solar manufacturer, surged Wednesday following a Reuters report that the Biden administration is likely to remove a tariff exemption for two-sided panels.
No timeline on the anticipated removal has been made, Reuters said, citing people familiar with the matter.
First Solar jumped as much as 6.1% in intraday trading Wednesday.
US-based solar manufacturers have long sought a removal of the exemption for two-sided, or bifacial, solar panels. That product enabled module buyers to avoid a tariff imposed by former President Donald Trump.
The change is one of a suite of policy moves panel makers have encouraged to foster domestic manufacturing. The vast majority of panels imported into the US today are two-sides models and even are used on rooftops where the attribute offers no benefit.
The Commerce Department did not immediately respond to request for comment.
©2024 Bloomberg L.P.
KEEPING THE ENERGY INDUSTRY CONNECTED
Subscribe to our newsletter and get the best of Energy Connects directly to your inbox each week.
By subscribing, you agree to the processing of your personal data by dmg events as described in the Privacy Policy.
More renewables news
GB Energy Faces Doubts as UK Declines to Affirm Future Funds
Korea Cancels Planned Reactor After Impeaching Pro-Nuke Leader
Brazil’s Net-Zero Transition Will Cost $6 Trillion by 2050, BNEF Says
SolarEdge Climbs 40% as Revenue Beat Prompts Short Covering
EU to Set Aside Funds to Protect Undersea Cables from Sabotage
China Revamps Power Market Rules In Challenge to Renewables Boom
KKR increases stake in Enilive with additional €587.5 million investment
TotalEnergies and Air Liquide partner to develop green hydrogen projects in the Netherlands
Germany Set to Scale Down Climate Ambitions
