President Joe Biden has made several announcements on Monday to encourage the use of clean energy in the US, including lifting a fine on rule-bending solar equipment imports.
Federal investigators had uncovered a scheme where manufacturers side-stepped Chinese export tariffs by rerouting them through countries like Cambodia, Malaysia, Thailand, and Vietnam. Typically, this kind of maneuver would have met decisive actions like a fine but Biden’s administration is making an exemption.
While the Department of Commerce has still vowed to penalise guilty companies, it says it will wait for two years to do so. And this is not all…
The White House is also invoking the Defense Production Act on solar equipment, the 1950 law typically authorises the president to require businesses to accept and prioritize contracts for materials deemed necessary for national defense, regardless of a loss incurred on business.
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However, in this case, it includes the Federal government giving a series of grants and loans to manufacture more solar equipment in the US. The hope is to reduce the dependence on Chinese markets for solar panels.
The reenacted act also covers heat pumps and building insulations as well as transformers and every other essential thing to boost the country’s power grid.
Biden’s focus on renewable energy and better power supply across the nation has been this administration’s most redeeming quality. The reason for this is explained by the Secretary of Commerce, Gina Raimondo.
“As droughts cripple the West and Russia’s unwarranted invasion of Ukraine have placed increasing strains on America’s energy market, preventing disruptions to the electric power system, diversifying our energy sources and responding to the climate crisis have never been more urgent, and solar energy is an essential component of meeting those needs,” Raimondo says in a statement.
The aim is to triple solar manufacturing capacity in the US by 2024 and improve the country’s chances of meeting its climate goal pledges.
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