REM: US to restore tariffs on bifacial solar panels

The anticipated decision from the Biden administration regarding a trade exemption request by Hanwha Qcells of South Korea, aimed at reversing a two-year-old policy allowing tariff-free imports of a prevalent solar panel technology, is set to be granted, sources familiar with White House intentions told Reuters.

This development boosted shares of solar producers like US-based First Solar in afternoon trading on April 22.

Hanwha Qcells, seeking to safeguard its $2.5bn US solar manufacturing expansion against competitive Asian products, had formally submitted the request to the US Trade Representative on February 23, with support from seven other firms with substantial investments in American solar factories.

The timing has not been finalised. A probe last summer found that some manufacturers in Asia had been illegally bypassing tariffs on Chinese solar equipment.