The decision by a Massachusetts solar company to abandon plans to build a $1.4 billion U.S. factory highlights the risks amid a flood of Chinese clean energy exports.
Top administration officials have begun warning that efforts to finance a domestic clean energy industry are being undermined by a surge of cheaper Chinese exports that are driving down prices and putting the United States at a competitive disadvantage.
The fate of the CubicPV factory is the type of outcome that Treasury Secretary Janet L. Yellen has warned is likely if China does not stop dumping heavily subsidized green energy products into global markets at rock bottom prices.
Ahead of talks with Chinese officials at the Treasury Department on Tuesday, Ms. Yellen said that China was not operating on a “level playing field” and warned that by producing more green energy products than the world can absorb, it was putting American firms and workers at risk.
The stakes are higher this time around, given the huge sums of taxpayer money that are being funneled into clean energy industries in an attempt to make the United States less reliant on China for solar panels, electric vehicle batteries and other products.
On Wednesday, Mr. Biden called for tripling tariffs on Chinese steel and aluminum imports, and the United States Trade Representative said it would begin an investigation into China’s shipbuilding practices.
Nick Iacovella, senior vice president of the Coalition for a Prosperous America, which promotes protectionist policies, said the White House bears some blame for the solar industry’s struggles.
The original article contains 1,446 words, the summary contains 227 words. Saved 84%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Top administration officials have begun warning that efforts to finance a domestic clean energy industry are being undermined by a surge of cheaper Chinese exports that are driving down prices and putting the United States at a competitive disadvantage.
The fate of the CubicPV factory is the type of outcome that Treasury Secretary Janet L. Yellen has warned is likely if China does not stop dumping heavily subsidized green energy products into global markets at rock bottom prices.
Ahead of talks with Chinese officials at the Treasury Department on Tuesday, Ms. Yellen said that China was not operating on a “level playing field” and warned that by producing more green energy products than the world can absorb, it was putting American firms and workers at risk.
The stakes are higher this time around, given the huge sums of taxpayer money that are being funneled into clean energy industries in an attempt to make the United States less reliant on China for solar panels, electric vehicle batteries and other products.
On Wednesday, Mr. Biden called for tripling tariffs on Chinese steel and aluminum imports, and the United States Trade Representative said it would begin an investigation into China’s shipbuilding practices.
Nick Iacovella, senior vice president of the Coalition for a Prosperous America, which promotes protectionist policies, said the White House bears some blame for the solar industry’s struggles.
The original article contains 1,446 words, the summary contains 227 words. Saved 84%. I’m a bot and I’m open source!