ARIZONA's First Solar, America's biggest solar manufacturer, finds the tax and tariff environment looks better in Europe and India and has decided against building a new factory in the US, reports Bloomberg.
The biggest US solar manufacturer is still planning a manufacturing facility in either Europe or India, said First Solar CEO Mark Widmar.
The decision will come after the company completes a third US plant early next year in Ohio and its first factory in India in the second half of 2023, said Mr Widmar.
The decision is a setback for US President Joe Biden's efforts to boost domestic solar manufacturing.
Solar installations have slowed this year amid a US Commerce Department trade investigation, raising the prospect of tariffs on panels imported from four southeast Asian nations.
While the White House announced this month a two-year moratorium on new tariffs and took steps to encourage American production, Mr Widmar said the moves don't address underlying issues that give cheap Asian panels an advantage over US producers. He's seeking instead tax breaks that will give First Solar economic incentives without raising prices for projects using imports.
'When I look at all the policy decisions there were made, there's nothing that would give us confidence that investing in the US is a priority for us and our shareholders,' he said.
The company also has factories in Malaysia and Vietnam. 'The best way to serve Europe is going to be on the continent,' he said.
SeaNews Turkey
The biggest US solar manufacturer is still planning a manufacturing facility in either Europe or India, said First Solar CEO Mark Widmar.
The decision will come after the company completes a third US plant early next year in Ohio and its first factory in India in the second half of 2023, said Mr Widmar.
The decision is a setback for US President Joe Biden's efforts to boost domestic solar manufacturing.
Solar installations have slowed this year amid a US Commerce Department trade investigation, raising the prospect of tariffs on panels imported from four southeast Asian nations.
While the White House announced this month a two-year moratorium on new tariffs and took steps to encourage American production, Mr Widmar said the moves don't address underlying issues that give cheap Asian panels an advantage over US producers. He's seeking instead tax breaks that will give First Solar economic incentives without raising prices for projects using imports.
'When I look at all the policy decisions there were made, there's nothing that would give us confidence that investing in the US is a priority for us and our shareholders,' he said.
The company also has factories in Malaysia and Vietnam. 'The best way to serve Europe is going to be on the continent,' he said.
SeaNews Turkey