Experts warn homeowners to move fast on this cost-cutting upgrade: 'I'm glad to have done it when I did'
Solar energy is popular with homeowners for a number of reasons. It's affordable. It reduces electricity costs, and it's a source of clean energy. But an Associated Press report about the impacts of tariffs on solar panels might make you want to make the switch sooner rather than later.
The price of solar panels has been going down since 2010. Many homeowners have also taken advantage of the 30% Residential Clean Energy credit. However, as former Lakewood City Mayor Mike Summers said to the AP, "I'm glad to have done it when I did."
President Donald Trump's recent tariff war with China has had several implications, including an impact on solar panels. And it's not just China. A BBC article states that the U.S. Commerce Department is considering a tariff of up to 3,521% on solar panels from Thailand, Cambodia, Malaysia, and Vietnam.
As much as 80% of solar panel parts come from China, according to the International Energy Agency.
In addition, the U.S. imported $12 billion in solar parts from Thailand, Cambodia, Malaysia, and Vietnam in 2023, as noted by the BBC. As much as many would like to see the U.S. as entirely independent, it relies on countries like China for the parts and minerals needed to create solar panels. What we can build in the U.S. doesn't come close to what we get outside the U.S.
A Solar Energy Industries Association 2024 report shed light on the U.S.'s exploding growth in solar, which was expected to double by 2029. This was having a positive impact on manufacturing and on our economy. But an increase in tariffs means an increase in costs to customers.
Less solar energy means more reliance on dirty-energy sources and, consequently, increased pollution and more warming of the Earth.
In the AP article, Columbia University Climate School Dean Alexis Abramson, said that interested homeowners should shop around now for solar. Homeowners can use sites like EnergySage, which lets users compare prices on providers in their area.
For the moment, tax credits are still available, though Trump has made it clear he wants to do away with the subsidies.
What kind of solar tech would you be the most willing to use?
Rooftop panels
Community solar
A portable solar generator
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