US Q1 solar panel imports surge as Biden's tariff moratorium improves supply from SE Asia
Higher volume aided by Chinese branded product from some affiliates in Southeast Asia found by Biden administration to violate US trade rules
American solar panel imports this year through March surged to a quarterly record, aided by Chinese branded shipments from affiliates in Southeast Asia found by President Joe Biden’s administration to violate US trade rules, according to a new analysis from S&P Global Market Intelligence.
Global suppliers, mainly from southeast Asia, delivered 50,227 20-foot equivalent units (TEUs) of containers carrying PV modules, up 87% from a year earlier.
That was also 12% more than the prior period and marked the third consecutive quarterly rise recorded by Panjiva, the supply chain research unit of S&P.
First quarter panel imports totaled 850,157 metric tons, up from 672,863 metric tons in fourth quarter 2022.
Vietnam accounted for 30.4% of shipments, then Thailand (18.6%), Malaysia (17.1%), and Cambodia (13.1%). Together, the four countries supplied 79.3% of US imports. India supplied a further 9.4%.
Among the largest shippers were affiliates of Chinese companies Trina Solar and LONGi Green Energy Technology, both preliminarily found in December to be circumventing US solar product tariffs on China after a probe by the Department of Commerce (DoC).
DoC’s initial conclusion was that these two firms and two other large Chinese-linked suppliers were doing this by routing cells and crystalline-silicon panels for “minor processing” to affiliated manufacturing facilities in those Southeast Asian nations, and a further 22 remain under investigation.
Four others were found adhering to US law including Boway, another major panel supplier here last quarter, according to the analysis.
He made the move under pressure from clean energy groups and solar product importers, installers, and project developers.
Biden said it was necessary to ensure near-term US supply and give domestic suppliers time to expand capacity to help meet an expected surge in demand after 2024. The US industry is heavily dependent on imported solar materials, components, and panels.
Critics accused Biden of undercutting his administration’s own investigation before DoC issues a final report later this month and forcing US manufacturers to unfairly compete against Chinese suppliers receiving state subsidies who are also avoiding US tariffs.
If DoC finds Chinese-affiliated companies in violation of US trade rules, they could be subject to both retroactive duties and/or new ones between 50% and 254%. Biden said he will not extend his moratorium after it expires 6 June 2024.
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