ITC Section 201 Decision

The next 24 hours are going to be filled with hot takes and calculations regarding the ITC announcement of tariffs on solar cells. I have three.

1) No, it’s not as bad as it could have been, but SEIA is projecting up to 23,000 solar jobs at risk in the US because of the tariffs. So it still sucks.
2) Anticipate increased logistics costs to cover warehousing as outside solar companies stay competitive by front-loading & warehousing 2.5GW cumulative each year and selling to spec when they’re gone.
3) Combined w/ the changes in the tax code, we’re likely going to see a shift in the timing of commissioning systems from Q4 to Q3 (maybe Q2) which are going to screw up companies’ QFY1/QFY2 numbers for a little while. Don’t panic.

You can read the decision here.

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