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The U.S. photo voltaic business is warning of a pointy slowdown in installations this yr due to world provide chain disruptions and the potential for brand spanking new tariffs on panel imports from Asia, Reuters studies.
Southern Co. (NYSE:SO) stated on Thursday that it will delay almost 1 GW of deliberate photo voltaic vitality initiatives by a yr to November 2024, the most recent of a number of warnings from firms and business representatives citing the 2 points.
ETFs: (NYSEARCA:TAN), (ICLN), (QCLN), (PBW), (PBD), (ACES), (CNRG)
Southern’s (SO) Georgia Energy utility acquired regulatory approval final week to delay 5 deliberate photo voltaic initiatives to November 2024, CFO Daniel Tucker instructed right now’s earnings convention name; the corporate has 30-year contracts to purchase energy from the services.
NextEra Power (NEE) final week blamed the Commerce Division’s investigation into photo voltaic panel imports for its determination to delay as a lot as 2.8 GW of photo voltaic and vitality storage initiatives till subsequent yr.
The Photo voltaic Power Industries Affiliation stated this week it was chopping its photo voltaic set up forecasts for 2022 and 2023 by 46% as a result of menace of latest tariffs, and that 318 initiatives have been canceled or delayed.
For U.S. photo voltaic builders, the tariff worries come on prime of surging prices for parts, labor and freight.
Earlier Thursday, Southern (SO) reported higher than anticipated Q1 earnings and revenues.
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