China solar firms reportedly stopping Southeast Asia production amid U.S. curbs - Seeking Alpha
China solar firms reportedly stopping Southeast Asia production amid U.S. curbs | Seeking Alpha
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U.S. solar stocks finished mostly higher on Wednesday following reports that Chinese solar firms are stopping production at Southeast Asian factories, as U.S. trade barriers create uncertainty for exports from the region.
Longi Green Energy reportedly began winding down activity at a plant in Malaysia this week after halting all five production lines at a Vietnam facility in the previous week, and Trina Solar confirmed it was shutting down capacity in Thailand and Vietnam.
Among Wednesday's gainers: Sunrun ( RUN) +6.4%, SunPower ( SPWR) +6.2%, NRG Energy ( NRG) +4.8%, SolarEdge Technologies ( SEDG) +3.3%, Constellation Energy ( CEG) +3%, Enphase Energy (NASDAQ: ENPH) +2.6%, First Solar ( FSLR) +2.6%, Array Technologies ( ARRY) +2.5%.
ETF: ( TAN)
The Biden administration issued new rules last month boosting tariffs against solar equipment; a two-year reprieve for certain solar imports from Cambodia, Malaysia, Thailand and Vietnam will end Thursday, and the U.S. also plans to end an exemption on bifacial solar modules.
Related Knowledge Center: ENERGY BASICS: solar
Declining costs and government encouragement have resulted in a rapid increase in solar energy production in the United States over the past 10 years, although solar’s share remains small: 1.6 percent of all electricity generation in 2018. That rapid growth is projected to continue.