- President Biden recently invoked the Defense Production Act in a bid to accelerate domestic production of clean energy technologies and spur domestic manufacturing
- He also declared a 24-month tariff exemption for solar panels from Cambodia, Malaysia, Vietnam, and Thailand
- This presents a breakthrough opportunity for Correlate and other players in the industry to scale up their operations and execute large-scale solar power installations around the country
In March 2022, the United States Department of Commerce opened an investigation into solar modules imported into the country from Southeast Asia. The affected nations included Cambodia, Thailand, Vietnam, and Malaysia, with the department citing the expansion of Chinese manufacturers into these markets to avoid duties imposed on Chinese exports back in 2012 (https://ibn.fm/LsoPP).
In a report published by The Wall Street Journal (“WSJ”) in April, it was noted that Southeast Asia was America’s top source of solar panels, accounting for 85% of American imports in 2021. However, the scrutiny of the investigation posed a challenge for companies within the United States that offered…
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