Latest news with #HanwhaQCells
Free Malaysia Today
27-05-2025
- Business
- Free Malaysia Today
US solar makers spot tariff loophole for SE Asian competitors
Tariffs up to 3,521% were imposed after the US International Trade Commission ruled that Asian solar imports harmed US manufacturers. (EPA Images pic) NEW YORK : US solar manufacturers are asking the US International Trade Commission to quickly address a potential tariff loophole on panel imports from Southeast Asia before a flood of equipment pours into the country. The commission last week found solar imports from Cambodia, Malaysia, Thailand and Vietnam — which make up the bulk of the US market — were injuring domestic producers. The decision cleared the way for duties ranging from 34% to 3,521% depending on the country and manufacturer involved. The agency said Tuesday it plans to publish that decision by June 30. But a group representing panel makers contends that if the decision is published after June 2 it risks allowing millions of dollars of equipment to enter the US free of the new duties. The American Alliance for Solar Manufacturing filed a petition to address the issue. The petition adds a new wrinkle to a years-long effort waged by US-based manufacturers to boost the competitiveness of their equipment. Already, developers have stored 40 gigawatts to 50 gigawatts of solar panel inventory as of the end of last year in a rush to avoid anticipated duties, according to an estimate from Wood Mackenzie, a research firm. The trade commission declined to comment on the petition. Companies including Hanwha Q Cells and First Solar Inc have blamed a surge of discounted imports from Southeast Asia for making it difficult to build and sell equipment domestically, even with tax incentives meant to help drive US manufacturing of advanced energy technology. The US imported US$12.9 billion in solar equipment last year from the nations, accounting for nearly 80% of total shipments, according to BloombergNEF. The duties are separate from widespread tariffs imposed by President Donald Trump to address trade imbalances.
Japan Times
21-05-2025
- Business
- Japan Times
U.S. clears way for tariffs on $13 billion of solar imports
U.S. duties on solar equipment from four Southeast Asian countries are set to take effect following a government agency's conclusion the imports harm domestic manufacturers. With a unanimous vote Tuesday, the U.S. International Trade Commission said it concluded imported solar cells and modules from Cambodia, Malaysia, Thailand and Vietnam injure the domestic industry. The determination was a key final threshold for duties to take full effect, setting the stage for collections in June. The decision is a victory for manufacturers operating in the U.S. Companies including Hanwha Q Cells and First Solar have blamed a surge of discounted imports from Southeast Asia for making it difficult to build and sell equipment domestically, even with tax incentives meant to help drive U.S. manufacturing of advanced energy technology. First Solar shares gained as much as 4.8% after the decision. "These are decisive victories for domestic manufacturing,' Tim Brightbill, cochair of Wiley's international trade practice and lead counsel for the coalition of solar companies that pursued the case, said during a conference call. Unlike widespread tariffs imposed by U.S. President Donald Trump, these duties are the result of a trade probe lasting more than a year that found imported solar equipment from the targeted countries is unfairly priced and subsidized, to the disadvantage of manufacturers in the U.S. The fees will raise the cost of solar equipment from Southeast Asia and will be a drag on renewable developers in the U.S. that depend heavily on imports from the region. The U.S. imported $12.9 billion in solar equipment last year from the four nations, accounting for nearly 80% of total shipments, according to BloombergNEF. However, domestic manufacturers downplayed the potential impact of those higher costs. Other factors are playing a bigger role in developer budgets — including the cost of labor and the challenge connecting projects to the grid — even as panel prices have come down significantly, said Mike Carr, executive director of the Solar Energy Manufacturers for America Coalition. "The cost of equipment is very low,' Carr said. "It's such a small percentage of the overall project cost.' Demand will continue to grow and domestic manufacturers are now on track to have enough cell and module production capacity to supply the entire U.S. industry by 2026, Carr said. Nevertheless, while solar now is a leading source of U.S. power-capacity installations, the duties add to other policy and supply headwinds complicating the potential for future growth. Congressional Republicans have moved to scale back key federal support, and the industry faces the prospect of further tariffs against imported solar. The duties, effectively calculated last month by the Commerce Department, are set to reach as high as 3,521% for some manufacturers in Cambodia, reflecting the country's decision to stop participating in the U.S. investigation. However, rates for other countries and companies are set to be far lower. The average duty was 396% for Vietnam, 375% for Thailand and 34% for Malaysia. The U.S. Commerce Department set the rates in April after the lengthy probe that found some solar manufacturers in the four countries were unfairly benefiting from government subsidies and selling exports to the U.S. at rates lower than the cost of production. JinkoSolar was assessed duties of about 245% for exports from Vietnam and 40% for exports from Malaysia. Trina Solar in Thailand faces levies of 375% and more than 200% from Vietnam. JA Solar modules from Vietnam could be assessed at about 120%.
Globe and Mail
25-04-2025
- Business
- Globe and Mail
This 1 ‘Strong Buy' Stock Is Already Surging on Trump's Tariffs. Analysts Think It Can Double From Here.
First Solar (FSLR) is a solar company that focuses on designing, manufacturing, and marketing its photovoltaic (PV) solar modules with the help of cadmium telluride (CdTe) technology. The company also sells power systems and provides maintenance and operational services to its customers. Founded in 1999, the company has its manufacturing plants in the U.S., Vietnam, and Malaysia with its headquarters in Tempe, Arizona. About First Solar Stock First Solar's stock has had a rough time in recent months, falling 22.6% YTD and more than 30% in the last 6 months. The stock is more than 55% below its 52-week high as well. Despite this, there might be some good news for investors as the stock popped more than 10% on Tuesday, April 22 following news regarding solar product imports. First Solar Reports Q4 Results First Solar posted its fourth-quarter and full-year results on Feb. 25. The solar company reported a profit of $393.1 million or $3.65 per share, which did not match the analysts' $4.64 per share estimate. However, First Solar generated $1.51 billion in revenue during the quarter, surpassing analysts' $1.47 billion estimate. On a full-year scale, First Solar generated $4.21 billion in revenue, with a $1.29 billion profit, translating to $12.02 per share. For 2025, management anticipates revenue in the range of $5.3 billion to $5.8 billion with a profit of $17 to $20 per share. The company is set to report its first-quarter 2025 results on April 29, 2025. First Solar Benefits from Tariff Decision Shares in First Solar rose following the finalization of steep U.S. tariffs on solar cells imported from Cambodia, Thailand, Vietnam, and Malaysia. These tariffs were part of a trade case initiated by First Solar, Hanwha Q Cells, and more, who accused Chinese manufacturers in the said countries of dumping products at artificially low prices and benefiting from subsidies. First Solar, one of the key petitioners, highlighted how these practices harmed U.S. solar producers. The tariffs, which include a staggering 3,500% duty on Cambodian imports, aim to protect domestic manufacturers like First Solar. However, critics warn that these levies could raise costs for U.S. production and negatively impact the industry overall. The four listed countries recorded more than $10 billion in solar supplies to America last year alone. Thus, critics including the Solar Energy Industries Association, have warned that the move can see a rise in the cost of production for U.S. companies by raising prices of solar cells and negatively impacting the industry as a whole. Analyst Takes on FSLR Stock Analysts have a very opinion of First Solar. The experts have a consensus 'Strong Buy' rating on the stock with a mean price target of $238.22, reflecting a massive 75% upside potential from market levels. The stock is even trading below the Street-low price target of $150. First Solar has been reviewed by 34 analysts in total while receiving 27 'Strong Buy' ratings, two 'Moderate Buy' ratings, and five "Hold' ratings from analysts.
The Star
22-04-2025
- Business
- The Star
SEA solar imports hit with up to 3,521% in US tariffs
PETALING JAYA: The United States has set new duties as high as 3,521% on solar imports from four South-East Asian countries, delivering a win for domestic manufacturers while intensifying headwinds already threatening the country's renewable power development. The duties announced on Monday are the culmination of a year-long trade probe which found that solar manufacturers in Cambodia, Vietnam, Malaysia and Thailand were unfairly benefiting from government subsidies and selling exports to the Unite States at rates lower than the cost of production. The investigation was sought by domestic solar manufacturers and initiated under former US president Joe Biden. While the duties benefit domestic manufacturers, they will also pinch the United States' renewable developers that have long relied on inexpensive foreign supplies, heightening uncertainty for a sector affected by political and policy changes in Washington. The levies will be in addition to new widespread tariffs imposed by US President Donald Trump that have upended global supply chains and markets. The antidumping and countervailing duties are designed to offset the value of alleged unfair subsidisation and pricing, as calculated by the Commerce Department. The department's determination is a victory for domestic manufacturing that both Trump and Biden have tried to galvanise. Potential beneficiaries include Hanwha Q Cells and First Solar Inc. Although the promise of subsidies and demand stoked by Biden's Inflation Reduction Act have helped drive a wave of interest – and investment – in new domestic solar panel factories across the United States, manufacturers warned those factories were imperilled by foreign rivals selling their equipment at below-market prices. 'This is a decisive victory for American manufacturing,' said Tim Brightbill, co-chair of Wiley's international trade practice and lead counsel for the coalition of solar companies that pursued the case. 'The findings confirm what we've long known – that Chinese-headquartered solar companies have been cheating the system, undercutting US companies and costing American workers their livelihoods,' he said. Countrywide duties were set as high as 3,521% for Cambodia, reflecting the country's decision to stop participating in the investigation, according to the Commerce Department. The United States imported US$12.9bil (RM56.4bil) in solar equipment last year from the four countries that would be subject to the new duties, according to BloombergNEF. That represents 77% of total module imports. Companies not named in Vietnam face duties of as much as 395.9%, with Thailand set at 375.2%. Countrywide rates for Malaysia were posted at 34.4%. Jinko Solar was assessed duties of about 245% for exports from Vietnam and 40% for exports from Malaysia. Trina Solar in Thailand faces levies of 375% and more than 200% from Vietnam. JA Solar modules from Vietnam could be assessed at about 120%. Chinese solar stocks remained largely muted after markets opened yesterday, with Trina down 1.6%, Jinko down 0.9% and JA Solar down 0.1%, as the United States' decision was largely expected and companies have been moving some manufacturing capacity to tariff-free nations such as Indonesia and Laos. According to a note by BofA Global Research, 'We don't think the higher rates will have much financial impact, especially post- recent reciprocal tariffs.' Indonesia is expected to have more than 20 gigawatts of foreign-owned solar manufacturing capacity by the middle of this year, from just one gigawatt at the end of 2022. However, other nations including India, Indonesia and Laos could be targeted by a possible new round of duties later this year, according to a note by Roth Industries citing Joseph C. Johnson, an associate director at Clean Energy Associates. Chinese solar maker JA Solar said in a written response to Bloomberg News that the company is closely monitoring the US tariff development while accelerating its globalisation efforts. These include a manufacturing plant in Oman that will start operation by the end of 2025 with six-gigawatt cells and three-gigawatt module capacity. The duties hinge on separate action by the US International Trade Commission, which is set to decide in about a month whether producers are being harmed or are threatened by the imports. After similar duties were imposed on solar imports from China roughly 12 years ago, Chinese manufacturers responded by setting up operations in other nations that weren't affected by the tariffs. The United States initiated a probe triggered by an April petition from the American Alliance for Solar Manufacturing Trade Committee, which represents companies including First Solar, Hanwha Q Cells and Mission Solar Energy LLC.
&w=3840&q=100)
Business Standard
22-04-2025
- Business
- Business Standard
US imposes tariffs as high as 3,521% on solar imports from Southeast Asia
The US set new duties as high as 3,521 per cent on solar imports from four Southeast Asian countries, delivering a win for domestic manufacturers while intensifying headwinds already threatening the country's renewable power development. The duties announced Monday are the culmination of a yearlong trade probe that found solar manufacturers in Cambodia, Vietnam, Malaysia and Thailand were unfairly benefiting from government subsidies and selling exports to the US at rates lower than the cost of production. The investigation was sought by domestic solar manufacturers and initiated under former President Joe Biden. While the duties are set to benefit domestic manufacturers, they also will pinch US renewable developers that have long relied on inexpensive foreign supplies, heightening uncertainty for a sector whipsawed by political and policy changes in Washington. The levies will be in addition to new widespread tariffs imposed by US President Donald Trump that have upended global supply chains and markets. The antidumping and countervailing duties, as they are known, are designed to offset the value of alleged unfair subsidization and pricing, as calculated by the Commerce Department. The department's determination is a victory for domestic manufacturing that both Trump and Biden have tried to galvanize. Potential beneficiaries include Hanwha Q Cells and First Solar Inc., among others. Although the promise of subsidies and demand stoked by Biden's Inflation Reduction Act have helped drive a wave of interest — and investment — in new domestic solar panel factories across the US, manufacturers warned those factories were imperiled by foreign rivals selling their equipment at below-market prices. 'This is a decisive victory for American manufacturing,' said Tim Brightbill, co-chair of Wiley's international trade practice and lead counsel for the coalition of solar companies that pursued the case. The findings confirm 'what we've long known: that Chinese-headquartered solar companies have been cheating the system, undercutting US companies and costing American workers their livelihoods,' he said. Countrywide duties were set as high as 3,521 per cent for Cambodia, reflecting the country's decision to stop participating in the investigation, according to the Commerce Department. The US imported $12.9 billion in solar equipment last year from the four countries that would be subject to the new duties, according to BloombergNEF. That represents about 77 per cent of total module imports. Companies not named in Vietnam face duties of as much as 395.9 per cent with Thailand set at 375.2 per cent. Country-wide rates for Malaysia were posted at 34.4 per cent. Jinko Solar was assessed duties of about 245 per cent for exports from Vietnam and 40 per cent for exports from Malaysia. Trina Solar in Thailand faces levies of 375 per cent and more than 200 per cent from Vietnam. JA Solar modules from Vietnam could be assessed at about 120 per cent. Trina shares ended trading 2.6 per cent lower on Tuesday in Asia, while Jinko fell 2.9 per cent and JA Solar declined 0.7 per cent. Shares of First Solar gained 7.2 per cent in pre-market trading on Tuesday morning in the US, while Jinko fell 2.9 per cent and Canadian Solar Inc. declined 4.2 per cent. 'We don't think the higher rates will have much financial impact especially post recent reciprocal tariffs,' according to a note by BofA Global Research. Indonesia is expected to have more than 20 gigawatts of foreign-owned solar manufacturing capacity by the middle of this year, from just 1 gigawatt at the end of 2022, according to BloombergNEF. However, other nations including India, Indonesia and Laos could be targeted by a possible new round of duties later this year, according to a note by Roth Industries citing Joseph C. Johnson, an associate director at Clean Energy Associates. Chinese solar maker JA Solar said in a written response to Bloomberg News that the company is closely monitoring the US tariff development while accelerating its globalization efforts. These include a manufacturing plant in Oman that will start operation by the end of 2025 with 6-gigawatt cells and 3-gigawatt module capacity. The duties hinge on separate action by the US International Trade Commission, which is set to decide in about a month whether producers are being harmed or are threatened by the imports. After similar duties were imposed on solar imports from China roughly 12 years ago, Chinese manufacturers responded by setting up operations in other nations that weren't affected by the tariffs. The US initiated a probe that was triggered by an April petition from the American Alliance for Solar Manufacturing Trade Committee, which represents companies including First Solar, Hanwha Q Cells and Mission Solar Energy LLC.
