Today the Trump Administration announced that they will be implementing a 25% tariff on solar inverters starting January 1, 2019.
How might this impact your investment in solar?
For residential solar, there will be little to no impact, however, on the grand scale, there could be some implications.
Once the tariff is in effect, the manufacturing of inverters will be reallocated and distributed amongst other countries besides China. However, the manufacturing of solar inverters will still not take place in the Untied States. It’s just too expensive. Therefore, the manufacturing will be moved to other Asian countries.
We saw a similar situation in February when the 30% import tariff went into effect. Although the tariff will increase the cost of going solar (large scale), it will not be as detrimental as inverters are only a small part of the total solar project. Moreover, it is adverse that the incentives for going solar continue to be diminished. Hopefully this does not result in the continual reliance of coal as a seemingly cheaper alternative, because it’s not!
The good news is this will not have much of an impact on the cost of residential solar.
So if you are interested in solar, the sooner the better. The cost of going solar is lower than ever and the 30% federal tax credit is still in play. Though don’t sleep, because the tax credit phases out next year!
If you would like an estimate, reach out to your local solar company today and jump on the opportunity to install a system at a low price.
Do the green thing and save big by investing in your future and in our plant.