Electonics & Semiconductors | Utility Scale Solar PV | Government Policies
US may impose anti-dumping duties on Indian solar module exports alongside Southeast Asian countries. Indian exports rose 227% to $1.8 billion in 2023, with US as top buyer accounting for 97.3% of exports. Potential tariffs could impact cost arbitrage and market access, with 78% of US photovoltaic module imports coming from Southeast Asia.
NotesWell, well, the US does appear to be getting more protectionist in the last few years, more so after the IRA, with many businesses vying to make manufacturing more viable on American soil.
While India's domestic market is expanding fast for solar panels, export markets possibly provide much higher margins than the razor thin margins from India. Should India install 20 GW of solar power in 2024, that would be a $7-8 billion of solar panel market, but India still imports a large share of panels from China (despite a hefty 40% customs duty!). The domestic market available for Indian companies thus might not be huge, and thus the significance of imports.
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