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The U.S. photo voltaic business is warning of a pointy slowdown in installations this yr due to international provide chain disruptions and the potential for brand new tariffs on panel imports from Asia, Reuters stories.
Southern Co. (NYSE:SO) stated on Thursday that it could delay practically 1 GW of deliberate photo voltaic vitality initiatives by a yr to November 2024, the newest of a number of warnings from corporations and business representatives citing the 2 points.
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Southern’s (SO) Georgia Energy utility obtained regulatory approval final week to delay 5 deliberate photo voltaic initiatives to November 2024, CFO Daniel Tucker advised at present’s earnings convention name; the corporate has 30-year contracts to purchase energy from the amenities.
NextEra Power (NEE) final week blamed the Commerce Division’s investigation into photo voltaic panel imports for its resolution 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% because of the risk 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.