More than 62,000 jobs, $19 billion in investment and 10.5 GW of solar are lost due to tariffs
WASHINGTON, D.C. – RealEstateRama – Tariffs on imported solar cells and modules have led to the loss of more than 62,000 U.S. jobs and $19 billion in new private sector investment, according to a market impact analysis released today by the Solar Energy Industries Association (SEIA).
The analysis comes as the midterm review process for the tariffs begins at the U.S. International Trade Commission on Dec. 5, and covers tariff impacts from the beginning of the 2017 trade complaint by Suniva through the end of the tariff lifecycle in 2021.
“Solar was the first industry to be hit with this administration’s tariff policy, and now we’re feeling the impacts that we warned against two years ago,” said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association. “This stark data should be the predicate for removing harmful tariffs and allowing solar to fairly compete and continue creating jobs for Americans.”
In addition to its economic impact, tariffs on solar have caused 10.5 gigawatts (GW) of solar installations to be cancelled, enough to power 1.8 million homes and reduce 26 million metric tons of carbon emissions.
KEY FIGURES FROM THE ANALYSIS:
- Solar tariffs are costing the U.S. more than $10.5 million per day in unrealized economic activity
- Each new job created by the tariff results in 31 additional jobs lost, 5.3 megawatts of solar deployment lost and nearly $9.5 million of lost investment
- Reduced solar deployment figures will increase emissions equivalent to 5.5 million cars or 7 coal plants
Tariffs on solar are most harshly affecting nascent solar markets including Alabama,?Nebraska, Kansas, and the Dakotas. These markets won’t be able to get off the ground because tariffs make solar uncompetitive.
The Section 201 solar tariffs began at 30% in 2018, and ramped down to 25% in 2019, 20% in 2020 and 15% in 2021.
Read the entire market impact analysis: www.seia.org/TariffImpacts
Press are encouraged to attend a Dec. 5 hearing at the U.S. International Trade Commission on the Section 201 solar tariffs. Beginning at 8:30AM, solar workers and allies will rally outside of the Commission building to urge the administration to #StopSolarTariffs.
Celebrating its 45th anniversary in 2019, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry, which now employs more than 242,000 Americans. Through advocacy and education, SEIA® is building a strong solar industry to power America. SEIA works with its 1,000 member companies to build jobs and diversity, champion the use of cost-competitive solar in America, remove market barriers and educate the public on the benefits of solar energy. Visit SEIA online at www.seia.org