Mike Bloomberg, the United Nations special envoy on cities and climate, said U.S. tariffs on solar cells are helping a handful of manufacturers more than the American public.
The protectionist policies were sought mainly by a small number of U.S. solar companies that are struggling to compete against Chinese rivals, Bloomberg said.
“The Chinese sell us solar panels at below the cost we can make them,” he said today at the Bloomberg New Energy Finance conference in New York.
Low-cost panels provide benefits to individuals, who can lower their utility bills, and those savings can help boost the overall economy, he said.
“Nobody is out there representing the public,” which benefits from cheap solar panels, Bloomberg said. “If the Chinese want to support our economy, send it in, babes.”
Bloomberg is the founder of Bloomberg LP, parent company of Bloomberg News.