Energy Transition

Chinese Import Tariffs Rise | If You Can’t Beat Them, Tax Us

byKevin Kang, Enverus Intelligence® | Research (EIR) Contributor

The anticipated end of a two-year reprieve on solar panel tariffs from China coincided with unexpected tariffs on other energy transition-related sectors. On May 14, President Joe Biden announced increased tariffs on Chinese imports in strategic areas such as solar cells, steel, aluminum, semiconductors, electric vehicles, lithium-ion batteries, battery components and other critical minerals. This move aims to counter China’s questionable trade practices but will add inflationary pressure to technologies already grappling with inflation and supply chain issues.

Despite progress in U.S. onshoring, reliance on Chinese imports remains significant. The U.S. currently has 13 GW of solar module production capacity and 19 GW under construction, sufficient for 2023 demand. However, domestic production of solar cells is limited, with only 3.3 GW expected to be operational this year as two new plants come online. Consequently, many solar projects will face tariff exposure until capacity increases. An additional 10 GW is projected to become operational in 2025, but this still falls short of current demand.

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About Enverus Intelligence®| Research
Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations, and macro-economic forecasts and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. Click here to learn more.

Picture of Kevin Kang, Enverus Intelligence® | Research (EIR) Contributor

Kevin Kang, Enverus Intelligence® | Research (EIR) Contributor

Kevin joined the Enverus Intelligence Research team in July 2023 and specializes in power markets and renewable technologies. He studied electrical engineering at the University of Calgary and brings expertise on both the finance and engineering side with over two years of experience working in boutique hedge funds, venture capital firms and major Canadian energy companies.

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