Solar Boom in Asia Pressures US Factories, Undermining Biden Law
- Asia factory boom to pressure prices in US, BNEF says
- ‘Factories will take longer to come online than expected’
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An expected boom in Asia’s solar manufacturing capacity will drive down panel prices and make imports more competitive, even as President Joe Biden’s landmark climate law entices suppliers to build more US factories.
While the law provides generous subsidies for domestic solar producers, Pol Lezcano, a BNEF analyst, is skeptical that factories under development now will be able to ramp up production fast enough to compete against a potential flood of cheap imports.