North Hollywood, CA -- (ReleaseWire) -- 03/13/2019 --On January 23, 2018, responding to the wake-up calls from Green Solar Technologies Founder, Nicki Zvik, and Green Solar Technologies COO, Edward Harner as well as other experts in the solar field, the president imposed tariffs on solar panels produced outside the United States. The tariffs would start at 30% and then gradually fall to 15% in four years. The first 2.5 gigawatts of solar cells imported each year would be exempted from the tariff.
Nicki Zvik, states, "GST was proud to send our very own Edward Harner to D.C. to make a case for the tariffs, and it made us even prouder as a company that his testimonial made a real impact in the solar industry."
It's been a little over a year now since the tariffs were enacted, so let's take a look at the impact the tariffs have had on the American solar industry and on the American economy as a whole.
Since the implementation of the tariffs, the U.S. solar industry has gained new momentum. A number of companies that manufacture solar panels and parts in other countries have set up manufacturing plants in the U.S. Prominent among these companies is LG Solar. More domestic manufacturing plants means more jobs for American workers.
LG Solar will soon begin supplying solar panels made in Huntsville, Alabama, and Green Solar Technologies looks forward to working with this globally recognized and respected company.
Nicki Zvik, adds, "We're very excited to begin our journey with LG. And we're proud that our efforts in D.C. have helped to encourage companies like LG to open manufacturing facilities in the U.S."
Due partly to the tariffs and the consequential increase in U.S. manufacturing plants, domestic solar panel systems are now less expensive than ever. In fact, solar panel systems are now 15 percent less expensive than they were only a year ago. This has contributed to the addition of 2.5 GW of U.S. solar capacity in the past year (an increase of 13 percent).
The 2018 solar tariffs were incentivised by two primary motives: strengthening the U.S. solar industry and creating jobs for American workers. So far, it appears that the tariffs are well on their way to realizing both goals. Providing more high quality, U.S.-made solar panel systems at lower costs to American consumers is a very welcome additional effect.
"Less expensive panels encourage more Americans to install solar panel systems on their business or home," says Zvik, "That's good news not just for the environment, but for the domestic solar industry and for the American economy."
About Nicki Zvik
Nicki Zvik is the Founder of solar installation company, Green Solar Technologies and real estate investment company, Spectrum Properties LLC.