201 Tariff details:
- Relates to a Tariff being imposed on foreign manufactured solar panels only, not on the entire cost of the solar PV system.
- Currently, foreign manufactured solar panels accounted for over 80% of the total panels installed in 2017.
- The Tariff starts off at 30% for year 1 and declines by 5% for an additional 3 years. The Tariff has the option to be extended at the end of year 4, but if it is not, the Tariff will expire at that time.
- The actual Tariff amount was lower than what was originally thought. The Tariff was anticipated to be initially set at 35% tariff for the first year.
- The effective date of the Tariff will be February 7, 2018.
- For a more detailed background and history on the Tariff, read our previous blog post located HERE.
What have we done to prepare?
- RGS Energy has been preparing for this outcome for some time now. Specifically, we secured a significant number of panels at pre-tariff pricing to ensure no price increase passed to our customers in immediate future.
- We have leveraged our other long-standing procurement and supplier relationships to maximize efficiencies, which allows us to minimize any future overall price increases associated with the Tariff.
- We have continually been educating our employees and sales persons to be well versed in all aspects of the Tariff. This allows for us to understand the implications of the Tariff and effectively discuss these implications with our customers.
What does this mean for you ( Residential )?
- In the immediate future, prices will NOT noticeably increase due to the strategic supply management discussed above.
- However, urgency is key! We do not know exactly how suppliers will adjust pricing in the future, but obviously very likely to increase. Now is the best time to go Solar!
- It is important that customers who are contemplating going Solar contact us as soon as possible. As previously mentioned, we have taken steps to protect our customers from the price increase associated with Tariff in the short term. Moving forward as soon as possible, rather than waiting, is imperative to ensure you are not affected by price increases.
- We see this as a challenge to the American solar industry. However, we will continue to maximize our efforts and leverage our longevity and relationships with manufacturers to provide the most value for our customers as possible.
- If you should have any questions or would like to speak to one of our Energy Advisors, please call us at (877) 747-4338, or submit a request for us to contact you by filling out the form below.
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