Analysis warns that the cost of an everyday household item could rise by over 60% – here’s what could happen

Analysis warns that the cost of an everyday household item could rise by over 60% – here’s what could happen

If the US government approves the newly proposed tariffs on imports from Southeast Asia, solar module prices could rise by two-thirds.

This dramatic increase in costs would hinder the progress of solar projects and significantly impact profitability for companies committed to clean energy.

What happens?

Reuters reported that Clean Energy Associates studied the impact of the proposed tariffs and how they threaten America’s solar plan. The supply chain consulting firm looked at how much solar cells and modules from Thailand, Malaysia, Cambodia and Vietnam would cost.

In April, major solar panel manufacturers called on the Biden administration to impose new import tariffs to protect U.S. factories and billions of dollars in domestic investments. Southeast Asian countries have been criticized for flooding the American market with much lower prices than U.S.-made solar panels.

According to a new analysis by Clean Energy Associates, the new tariffs could increase the price of solar modules produced in the United States by 45 percent and imported modules by 66 percent.

To make matters worse, America has no domestically produced cell supplies, so the US is dependent on solar cell imports from Southeast Asia.

Why are tariffs for solar modules important?

These massive increases in the cost of solar panels are counterproductive to expanding the power and reach of clean energy. The tariffs set the US back on its stated climate goals and diminish the hope that solar energy can replace gas, coal and other polluting energy sources.

Solar energy allows us to generate our own electricity using the power of the sun without emitting harmful carbon pollution, which in turn contributes to rising temperatures and weather extremes.

Scientists are researching how to make solar technology more efficient and have made incredible breakthroughs in energy storage. But if the U.S. approves these tariffs on imported solar equipment, the costs could become too high to scale up projects and put these innovations to good use.

What is being done in the area of ​​clean energy policy?

Environmentalists have made it clear that these tariffs are at odds with the Biden administration’s climate goals and are putting pressure on the administration to reconsider its policies that stand in the way of creating a cleaner, greener planet.

As the Tax Policy Center pointed out, such tariffs would likely raise consumer prices, mean fewer jobs for American workers, and increase Americans’ dependence on dirty energy.

One of the best things you can do as a citizen and consumer is to educate yourself about energy policy by educating yourself on critical climate issues and sharing the facts with people you know.

Armed with the most up-to-date information, you can be more focused and informed in your clean energy advocacy efforts and then make your voice heard by connecting with elected officials who represent you in government.

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