Commerce Department Probe Of Solar Panels From Southeast Asia Will Require Decision By March 25, Impact Could Mean High Retroactive Duties If Tariffs Were Found Circumvented; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Optimistic About Its US-Sourced Solar Panels
A Commerce Department probe of Solar Panels sourced from Southeast Asia regarding their apparent circumvented navigation around US-imposed tariffs, requires a decision on whether to go forward, according to site Bloomberg. The news last night involves tariffed solar panels actually being shipped from third-party countries such as Malaysia, Thailand, Vietnam and Cambodia to avoid the U.S. tariffs. If found guilty, the probe has the potential to freeze investment in the U.S. solar industry. Solar Integrated Roofing Corp. (OTC PINK: SIRC) is optimistic about its US-sourced Solar Panels
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), ChargePoint (NYSE: CHPT), EVgo (NASDAQ: EVGO), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR) and SunPower (NASDAQ: SPWR).
Commerce Department Probe Of Solar Panels From Southeast Asia Will Require Decision By March 25, Impact Could Mean Retroactive Duties If Tariffs Were Found Circumvented; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Optimistic About Its US-Sourced Solar Panels
The news report last evening means the Commerce Department will need to make a quick decision on formalizing the probe. It has long been rumored that South Asian — particularly China — had been re-routing solar panels sold to the U.S. to avoid the tariff penalties. Solar panels sold from the four countries in question probably did not originate from there, only sold through trans-shipment from the locations to avoid the Trump-era tariffs.
Commerce Department Probe Of Solar Panels From Southeast Asia Will Require Decision By March 25, Impact Could Mean Retroactive Duties If Tariffs Were Found Circumvented; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Optimistic About Its US-Sourced Solar Panels.
If a formalized probe found the four countries guilty, it could mean high retroactive tariffs of from 50-250%, according to the U.S. Solar Energy Industries Association (SEIA), a lobbying group.
Abigail Ross Harper, president of the SEIA, says, “’It’s just not a rational business risk to put product on the water and send it here when you don’t know what it’s going to cost when it gets here.” Commerce Department Probe Of Solar Panels From Southeast Asia Will Require Decision By March 25, Impact Could Mean High Retroactive Duties If Tariffs Were Found Circumvented; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Optimistic About Its US-Sourced Solar Panels.
Commerce is responding to a petition from Auxin Solar, a small manufacturer.
Meanwhile, the die has already been cast. Some 13% of solar scale capacity scheduled for 2022 completion has already been cancelled due to higher costs, disruption or policy uncertainty in Washington. Developers have already warned the Biden Administration that the Commerce Department decision could compound those challenges.
Meanwhile, SIRC’s family of companies has already pivoted to install in customer’s homes Enphase’s 3R rated IQ batteries designed to work with grid-tied solar panel systems. It offers customers reliable solar backup power and an all-in-one AC-coupled storage system that is smart, simple, and safe.
The IQ8 is Enphase’s smartest microinverter yet and changes the paradigm for solar technology, which otherwise requires a grid connection to operate.
SIRC announced that the Enphase Energy System can be controlled through a smart mobile app to determine how much power a customer is making, using and saving in real time. Customers also have access to the Enphase-exclusive Envoy Communications System and Enlighten website.
It offers customers the chance to monitor and manage their solar power systems 24 hours a day. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Announces A New Pricing Agreement With Enphase Energy (NASDAQ: ENPH) For The ‘Enphase Energy System’ Including IQ Batteries, IQ Microinverters And Communications Software; SIRC Also Signs With Tier-1 Solar Provider To Cut Hardware Costs 25+%
David Massey, founder and CEO of SIRC, says, “Enphase is a leader in home energy systems, and we are privileged to provide its energy solution to our over 250 sales teams spanning 40 states and our commercial development firms.
“I have used Enphase micro inverters since 2006 and have the utmost confidence in their products. Further integrating Enphase into our sales mix comes at an opportune moment as homeowners are increasingly interested in a backup battery system in a time of extreme weather and frequent power interruptions. This comprehensive supply solution is often significantly less expensive as compared to a consumer’s electric bill, while our attractive 0.99% project financing and 25-year warranty provides a highly compelling reason to evaluate the switch to solar.”
He adds, “We expect the new pricing agreement to increase margins and cost savings that will translate into additional profits for our shareholders. I look forward to adding these tier-1 products to our growing portfolio of companies nationwide.”
Commerce Department Probe Of Solar Panels From Southeast Asia Will Require Decision By March 25, Impact Could Mean High Retroactive Duties If Tariffs Were Found Circumvented; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Optimistic About Its US-Sourced Solar Panels
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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