Trump says a tariff on solar-energy cells and panels will create jobs and revive a U.S. manufacturing sector that has been decimated by imports.
The tariff sparked controversy in the solar industry after Trump imposed it Jan. 23. A couple of remaining U.S. solar-cell manufacturers say it will help them get back on their feet. But the developers that install solar panels and farms — a much larger segment of the industry — say it will hike their costs, kill projects and make it harder to compete with wind and natural gas.
Fueled by low prices and innovations in imported solar cells, the U.S. solar market began to grow at a breakneck pace starting in 2010.
But the tariff is bound to change the dynamics. Will it add “a lot of jobs,” as Trump says?
Solar energy company SunPower announced on Thursday that it is halting a $20 million investment in new factories and hundreds of new jobs after the Trump administration imposed federal tariffs this week, Reuters reports.