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Solar stocks are in the spotlight again as the U.S. government’s latest anti-dumping tariffs aim to boost domestic manufacturing and reshape the renewable energy landscape. Regulators believe that China has at least 80% of global market share in solar panel manufacturing, and that Chinese producers are routing cells through Southeast Asian countries including Malaysia, Vietnam, Cambodia, and Thailand. This has led to tariffs that range from 21.3% for Malaysia to 271.28% for Vietnam. Analysts predict that these measures will accelerate the long-term growth of U.S.-based solar production.
In 2023, the U.S. added a record-breaking 32.4 gigawatts of solar power, making solar the dominant source for new electricity generation capacity. For the first time, it accounted for over half of all new capacity in the country. Despite broader economic challenges, this momentum has carried into 2024, reflecting investor confidence.
