Tax rate for imported photovoltaic cells

What are solar panel import tariffs?

Solar panel import tariffs are primarily intended to support the development of a new U.S.-based solar module manufacturing supply chain, which is financially backed by the Inflation Reduction Act. This act introduces a series of tax credits designed to bolster domestic manufacturers. For solar modules, the credits are as follows:

Why did the US raise tariffs on solar cells?

The US government has decided to raise the tariff rates it applies to solar cells imported from China from 25% to 50%. “The tariff increase will protect against China’s policy-driven overcapacity that depresses prices and inhibits the development of solar capacity outside of China,” the White House said in a statement.

Why should you import solar panels from China?

Both the tariffs and the fact that China is the largest producer of solar panels globally make importing them from this country beneficial. As one can see, the duty rates on solar panels imported from China to the EU are very low, and in this case, they’re zero.

How much will a tariff on solar cells increase in 2024b?

The tariff on solar cells has risen from 25% to 50%, and battery cells have seen increases up to 25%. Today, importing solar cells from China, which cost between a few cents to a nickel per watt, would see a tariff increase from $0.0125/Wdc to $0.025/Wdc with this hike. 2024b – Pending Investigation

Where are photovoltaic modules made?

The report also shows that China is responsible for over 65% of photovoltaic modules’ global production. Most of the factories manufacturing such modules are located in Zhejiang, Jiangsu, and Guangdong Provinces. These are the most industrialized regions in the country, with the most significant number of Chinese photovoltaic suppliers.

Can Europe import solar panels from China?

Since then, the interest of European importers in solar panels from China has been growing as well, making the European Union its primary market for this sector. We present all you need to know about importing solar panels from China to the European Union.