Energy

Solar stocks jump after Biden administration announces tariff suspensions

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SunPower equipment technicians install P-Series solar panel manufacturing technology at its manufacturing plant in Hillsboro, Oregon, November 7, 2018. 

Steve Dipaola | Reuters

Solar energy stocks soared Monday after a report that the Biden administration will suspend tariffs on solar panel components from four countries.

President Joe Biden declared a 24-month tariff exemption for solar panel products from Cambodia, Malaysia, Thailand and Vietnam, and announced the use of the Defense Production Act to promote domestic production. The news was first reported by Reuters. The move comes as a Commerce Department investigation into the solar industry in Southeast Asia has added more hurdles to…



Source cnbc.com

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