Trump Enacts New Solar Tax

January 24, 2018 Taxation in USA

Solar tariffWASHINGTON D.C. – President Trump has made a move which will see a hike in price for solar panels and other solar equipment.

Earlier this week the Trump administration of the USA announced that a new duty will be enacted on the import of solar panels into the country.

Solar panels and other solar equipment coming into the USA will be faced with a tariff of up to 30 percent.

Officially, the tariff is intended to encourage the growth and expansion of the domestic solar manufacturing industry.

However, while government analysis predicts that the solar tariff will help the US economy, independent analysts do not hold the same view.

Some experts believe that the measure will not lead to the creation of extra jobs, and while it may lead to a slowdown in solar adoption, it will not help review the flagging coal industry.

It is expected that the tariff will increase the price of residential solar systems by approximately 3 percent, while large industrial solar farms will increase in price by 10 percent.