First Solar CEO Warns Tariff Exemptions Could Harm American Solar Manufacturing Industry

First Solar CEO Mark Widmar has raised concerns about tariff exemptions on solar components that could hinder the growth of domestic manufacturing in the solar industry. In an interview with CNBC, Widmar emphasized the need to close these exemptions, which allow cheap components to flood the U.S.

market, creating challenges for American manufacturers looking to expand. According to Widmar, an estimated 30-40 GW of excess product have made their way into the U.S.

market, making it difficult for domestic companies to increase their production capacity. This, he explained, is preventing these companies from scaling up effectively. Widmar also expressed worries about Chinese companies taking advantage of tax credits, such as the $0.

07/watt credit for solar modules under the Inflation Reduction Act, to establish assembly plants in the U.S. This could further impact the competitiveness of domestic manufacturers in the industry.

As the solar industry continues to grow, Widmar's concerns highlight the importance of addressing tariff exemptions and ensuring a level playing field for American companies in the market.