Charlottesville Solar Company Prepares for Effects of New Tariff
A Charlottesville-based solar business is concerned about a new 30-percent tariff that will be imposed on solar panels imported from other countries.
CHARLOTTESVILLE, Va. (WVIR) - A Charlottesville-based business is concerned about a new 30-percent tariff that will be imposed on solar panels imported from other countries.
President Donald Trump signed off on the new tax Tuesday, January 23, in a decision his administration says will put American companies and jobs first.
However, many solar companies say it will have negative effects on the industry, including Charlottesville's Sigora Solar.
“We were very hopeful that the tariff would not be imposed, but we have been preparing for this since May. So we've been streamlining our processes and reducing our operating cost so that we could insure that whatever tariff was imposed would not affect the end price to our customers,” said Sigora Solar CEO Logan Landry.
Aside from making sure customers will not face higher prices, Sigora Solar says it is able to keep all it’s staff by cutting back its operation costs.
Statement from Coronal Energy:
Coronal Energy began preparing for potential tariffs on imported modules and cells in May 2017, when Suniva filed its initial petition to the US International Trade Commission. We believe the decision will cause some unfortunate short-term turmoil, but we also believe strongly that the U.S. market will continue to demand clean, affordable renewable energy.
Coronal Energy has a robust, multi-gigawatt solar development pipeline in the United States and has commissioned several hundred megawatts over the last two years alone.
Our growth over the past 24 months can be attributed to high demand for affordable, renewable energy, favorable financial markets, free trade and – importantly - our ability to deliver for the world’s largest utilities.
As we enter a post-201 trade case climate, we will continue to make long-term investments in solar and to do the important work of delivering value to our customers, investment partners, and the American ratepayers and voters who in 2018 and beyond will continue to demand clean, green, affordable energy.
01/23/2018 Release from Sigora Solar:
CHARLOTTESVILLE, Va. – Logan Landry, chief executive officer of Virginia’s largest solar provider, responded today to the decision by the Trump Administration to raise import solar tariffs.
“In recent years, the solar industry created more than 260,000 jobs while other industries reduced jobs. Solar also hired workers 17 times faster than the U.S. economy as a whole. This decision by the administration will only hurt the fastest-growing, job-producing industry in the nation. However, we do appreciate the President’s decision to reduce the initial ask by the U.S. International Trade Commission from 50 percent to 30 percent, subsequently reducing the tariff by 5 percent each year.
“As soon as the tariff became an issue in May 2017, Sigora Solar launched two key strategies to minimize the tariff’s impact on customers. We streamlined our processes and reduced operating costs, while making bulk purchases of solar panels and equipment.
“Our strategies reduce the cost of solar, and because of these actions, we don’t anticipate the tariffs to result in price increases for our future customers. Moreover, because we believe this tariff is targeted at Asian exports, we’ve strengthened our relationships with manufacturers in Canada and other nations around the world.
“The Virginia market is incredibly young and has more room for growth than virtually any market in the country. We will continue to provide the state’s most comprehensive and affordable solar power products and services. With Sigora Solar, Virginians will continue to have a choice for their energy needs, and will save money with our ‘Produce and Reduce’ program.”
Based in Charlottesville, Sigora Solar is the largest solar provider in Virginia. Founded in 2011, the privately-owned company ranks as one of Inc. 500’s fastest growing companies. It is the only solar provider in Virginia offering businesses and homeowners solar energy paired with energy efficiency, and no-money-down financing options. Sigora Solar works with customers to reduce their energy bills, sustain the quality of their environment, and shape the future of energy production and conservation. For more information, visit sigorasolar.com.