At the start of 2018, the United States enacted tariffs that affected the solar industry. Here’s what you need to know about these tariffs and how they impact you:
Tariffs Affecting Solar Cells & Modules:
For imports of solar cells and modules, the President approved applying tariffs for the next four years with the following terms:
Safeguard Tariff on Modules and Cells
Cells Exempted from Tariff
A tariff of 30% was levied this year starting February 2018, will go down to 25% in the second year, 20% in the third year, and 15% in the fourth year. The first 2.5 GWs of imported solar cells will be exempt from the tariff in each of those four years.
What this all means for you: Solar panel manufacturers increased their prices months before the tariff hit actually, thus there has not been any increase in the pricing of solar panels that Renvu carries in the past couple of months. As a matter of fact, pricing has been settling back to previously seen levels, and expected to drop once February 2019 hits.
Tariffs Affecting Solar Racking:
Starting March 23, 2018 tariffs were implemented on steel (25% tariff) and aluminum (10% tariff) imported into the United States. However on June 20th, 42 exclusion requests were issued to seven major companies importing steel products into the United states.
Then on August 10, 2018 additional tariffs were imposed on Turkey for imports of steel from 25% to 50%.
What this all means for you: Not much. UNIRAC and Ironridge, the most popular racking options sold at Renvu have both absorbed the cost instead of passing it along to the customer, so the pricing for racking that you pay with Renvu has not been affected.
In summary, while it’s unfortunate that tariffs were levied on solar modules and material used for racking equipment, the reality is that as a customer of Renvu, you do not need to worry about any massive changes in pricing coming up this year. You can continue to expect competitive pricing for your solar projects. Go ahead and compare full system quotes between different equipment using our Solar Kit Guide.