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☆ Solar manufacturers petition U.S. to impose tariffs on imports from four Southeast Asian nations
▼ + stars: | 2024-04-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

A coalition of U.S. solar manufacturers petitioned the federal government on Wednesday to impose tariffs on imports from four Southeast Asian nations, alleging that the countries are flooding the U.S. market with cheap products that threaten the domestic industry. The other six parties to the petition are Convalt Energy, Meyer Burger, Mission Solar, Qcells, REC Silicon and Swift Solar. They are requesting that the Commerce Department impose tariffs on solar cell imports from the four countries as a remedy. "This case is bad news for clean energy jobs and American solar manufacturing," Array CEO Kevin Hostetler said in a statement Wednesday. The ITC and Commerce Department investigations will take about 12 months to conclude, Brightbill said.

Persons: Meyer Burger, Tim Brightbill, Joe Biden, Brightbill, Kevin Hostetler, Janet Yellen, Biden Organizations: U.S, Convalt Energy, International Trade Commission, Commerce, ITC, Initiative, Commerce Department, Solar Energy Industries Association, American Clean Power Association, Advanced Energy, American Council, Renewable Energy, Technologies, International Energy Agency, IEA, CNBC Locations: Zhangye city, Gansu province, China, Cambodia, Malaysia, Thailand, Vietnam, U.S, The U.S, Beijing's

☆ Insight: US solar panel manufacturing boom threatened by cheap imports
▼ + stars: | 2023-11-03 | by ( Nichola Groom | ) www.reuters.com time to read: +7 min

[1/5] Solar panels from SunPower are installed on residential buildings at a model home display in the Eureka Grove neighborhood of Granite Bay, California, U.S., October 5, 2021. But global solar panel prices have collapsed due to a wave of new Asian production capacity in recent months, leading many in the U.S. solar industry to worry many of these proposed factories may be uneconomical. U.S. officials have repeatedly warned that over-reliance on Chinese clean energy technology could pose a security risk similar to Europe's historical dependence on Russian natural gas. A White House spokesperson did not respond to questions about recent market challenges facing domestic solar manufacturers, but said Biden's policies had generated a huge wave of investment and were revitalizing American manufacturing. Mike Carr, executive director of the Solar Energy Manufacturers for America trade group, said factories could be delayed, extending U.S. dependence on China.

Persons: Nathan Frandino, Joe Biden’s, ”, Edurne Zoco, Wood Mackenzie, Mike Carr, ” Carr, Brian Lynch, Jekyll, Hyde, Lynch, Danny O'Brien, Meyer Burger, Hari Achuthan, Richard Valdmanis, David Gregorio Our Organizations: REUTERS, P, U.S . International Trade Commission, Companies, Reuters, Energy, Solar Energy Manufacturers, America, Insights, U.S . Commerce Department, Solar Energy Industries Association, Convalt Energy, Treasury Department, Commerce Department, Thomson Locations: Eureka Grove, Granite Bay , California, U.S, Europe, China, United States, Malaysia, Thailand, Cambodia, Vietnam, India, Mexico, Hanwha, Colorado, Asia, New York, Maine

Meanwhile, Germany is examining options including trade protections to shield local solar manufacturers from falling global prices, a government document seen by Reuters showed. "Tariffs are not a good answer to the current challenges in the European solar industry," said Gunter Erfurt, Board Director at industry group SolarPower Europe, whose members include producers, large buyers and companies involved in installation. "Instead of sanctioning the entire industry through tariffs, we must incentivize solar installations that originate from resilient European solar production. This way, the deployment of solar energy can continue undisturbed while the European solar manufacturing can grow steadily," said Erfurt, who is CEO of Swiss solar cell maker Meyer Burger. But industry fears restricting Chinese supplies would cause a repeat of the 2013-2018 period, when Europe's solar energy installations dipped temporarily - coinciding with EU limits on tariff-free imports of Chinese solar panels and cells.

Persons: Gunter Erfurt, ", Meyer Burger, Kate Abnett, Philip Blenkinsop, Riham Alkousaa, Hugh Lawson Organizations: Meyer Burger Technology, European Commission, Reuters, EU, Thomson Locations: China, Brussels, Europe, Germany, Erfurt, Swiss, EU

☆ Goldman Sachs names 3 stocks to gain from Germany's $440 billion clean energy plans
▼ + stars: | 2023-05-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Goldman Sachs named the three global companies it expects to benefit from the German government's plan to spend nearly half a trillion euros on renewable energy infrastructure. The proposed measures include a 2030 target to have 80% renewable energy and cheaper financing for developers of clean energy sources through green bonds. Goldman Sachs has estimated that this German plan will create investment opportunities worth nearly 400 billion euros ($440 billion) in clean energy and power grid infrastructure. RWE Goldman Sachs said RWE , a renewable energy generator, could accelerate the development of clean energy projects and capture a market share equivalent to its current installed base globally. Goldman Sachs added that the U.S.'s IRA and Europe's REPowerEU initiative would also be a tailwind for the company's growth plans.

☆ Goldman Sachs says these 8 beaten-up stocks will turn profitable this year — and outperform the market
▼ + stars: | 2023-03-03 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Goldman Sachs has named eight global stocks of companies that will become profitable this year and beat the broader market. In a new research report, the investment bank found that companies that transition from unprofitable to profitable during a market recovery typically outperform the broader market. Goldman Sachs also said stocks of European companies undergoing this transition are already showing signs of outperformance against the Stoxx 600 by 6%. Pan-European classifieds operator Adevinta and Swiss solar power engineering firm Meyer Burger are also expected to turn profitable this year. However, Goldman cautioned that the bank isn't certain the market has reached its bottom, and the trend applies only in a market recovery scenario.

☆ Germany's Solar Valley could shine again as Europe strives to close energy gap
▼ + stars: | 2022-10-28 | by ( Riham Alkousaa | ) www.reuters.com time to read: +6 min

It is also reacting to a new U.S. law that has raised concern the remains of Germany's formerly-dominant solar industry could relocate to the United States. China's production is also around 10%-20% cheaper that in Europe, separate data from European Solar Manufacturing Council ESMC shows. Dries Acke, the Policy Director at industry body SolarPower Europe, said the body had written to the European Commission urging action. Berlin-based residential solar energy supplier Zolar said orders have risen by 500% year-on-year since the Ukraine war began in February, but clients might have to wait for six-to-nine months to get a solar system installed. "The signs for the solar industry in Germany are much, much better now," he said.

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