Solar Energy World Reacts to Solar Tariffs

Solar Energy World, a Top 500 Solar Energy company headquartered in Maryland with offices in New Jersey, is one of the few solar companies that will not be affected negatively by this decision. In 2017 Solar Energy World increased installations by 23% while other solar companies were decreasing installations. Principals at the company project the growth trend will continue and its solar installations will increase by more 30% this year, despite the tariff news. "The fear of the tariff has actually caused more damage to the industry than the tariff itself," says Geoff Mirkin, CEO of Solar Energy World. "Our industry will survive. It always does. Our company will not be affected negatively because we knew this would be coming and were prepared."

Elkridge, MD: News broke on Monday January 22, 2018 that President Trump has decided to increase solar tariffs on imported panels by 30% beginning in February. The decision is the result of a petition filed by solar panel manufacturer Suniva last year asking the ITC to investigate whether increased solar cell and module imports caused serious injury to the U.S. solar manufacturing industry. SolarWorld later joined the petition. Suniva and SolarWorld both filed for bankruptcy last spring. Although neither manufacturer is an American-owned company, they won the case. The Solar Energy Industries Association (SEIA) said in a statement that it is disappointed in the decision because they claim it will "cost tens of thousands of hard-working, blue-collar Americans their jobs."


The news isn't all bad however. Solar Energy World, a Top 500 Solar Energy company headquartered in Maryland with offices in New Jersey, is one of the few solar companies that will not be affected negatively by this decision. In 2017 Solar Energy World increased installations by 23% while other solar companies were decreasing installations. Principals at the company project the growth trend will continue and its solar installations will increase by more 30% this year, despite the tariff news. "The fear of the tariff has actually caused more damage to the industry than the tariff itself," says Geoff Mirkin, CEO of Solar Energy World. "Our industry will survive. It always does. Our company will not be affected negatively because we knew this would be coming and were prepared."

So why exactly is Solar Energy World seemingly exempt from the negative effects of our President's decision? Solar Energy World anticipated the tariff increase early and adjusted pricing last year, so there will be no increase in pricing passed down to its customers. Solar Energy World gets its solar products from manufacturers all over the world and is not limited to supplies from the countries affected by the tariffs. While other solar companies may have to increase their pricing due to debt and higher overhead, Solar Energy World has always operated within tight margins and will not have to compensate by jacking up prices. Solar Energy World has strong stable ownership with over 75 combined years of upper management experience.

GTM Research analysis shows that although increased tariffs will slow growth in the solar industry sector overall, the industry itself will survive. Solar panel pricing in the US will increase temporarily and US installations will drop but installations will trend upward again starting in 2019.

The fact is, there has never been a better time to go solar than right now. Tax credits, rebates and grants are still available to homeowners who wish to purchase a solar system but this will not last forever. In addition, utility companies across the country have plans to increase electricity rates as they do every year. For those who wish to lock in a rate that is lower than utility's Solar PPAs (Power Purchase Agreement) are available that allow a homeowner to pay NOTHING for solar panels to lock in a rate that is lower than their utility for 20 years.

Featured Product

Tile Replacement Mount from Quick Mount PV

Tile Replacement Mount from Quick Mount PV

The Tile Replacement Mount provides a fast and easy way to install solar on tile roofs while protecting against water intrusion. Simply remove the tile and replace it with the Tile Replacement Mount. Works with all standard curved and flat tile roofs, and all standard rail-based racking systems. Flashed at both the deck and top levels, the mount is fully engineered to meet code requirements and industry best practices. The Tile Replacement Mount features Quick Mount PV's patented Elevated Water Seal technology for optimal waterproofing. Get a free sample and see for yourself!