Solar panel importers face a December 3rd deadline to deploy stockpiled panels or risk hefty retroactive tariffs, creating uncertainty in the renewable energy sector.
Companies that imported millions of Southeast Asia n solar panels could have to pay tariffs on them 'ranging from 30% to more than 230%', according to a new report from Bloomberg. Companies have until December 3rd to install the panels, and U.S. Customs and Border Protection has pledged strict enforcement to prevent stockpiling, potentially exposing importers to audits, inspections, and billions in backdated tariff costs.
Bloomberg writes that federal regulators have warned importers for months that they must prove panels are 'utilized' or face retroactive tariffs, rejecting loopholes like destroying panels or temporary warehouse installations. Despite a last-minute push, analysts estimate 30 to 40 gigawatts of imported panels remain unusedover two-thirds of the U.S.'s annual panel demand. BloombergNEF data shows more than 30 gigawatts failed to meet the deadline.
Tariffs December 3Rd Deadline Biden Administration Trade Policy Southeast Asia Imports Renewable Energy U.S. Customs And Border Protection Stockpiles
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