Expect reduced job growth, canceled projects and increased energy costs
WASHINGTON (January 22, 2017) – Today, President Trump announced his decision to levy penalizing tariffs on imported solar panels, an alarming move that could leave lasting damage across one of America’s fastest-growing job sectors.
This decision comes despite calls from companies, members of Congress, worker groups, and Republican-led organizations urging Trump not to impede U.S. clean energy growth.
Bob Keefe, executive director of E2 (Environmental Entrepreneurs) issued this statement on Trump’s decision:
“The president’s decision today targeting the solar industry once again puts campaign rhetoric before real-world consequences. America can expect to see reduced job growth, canceled construction projects increased energy costs and more damage to our environment from fossil fuels.”
“While the rest of the world runs ahead developing the future energy economy, President Trump is shooting America in the foot with this needless tariff on one of our fastest-growing sectors. We already know this administration has failed to embrace renewable energy, but this move does more than interrupt current progress – it leaves behind a damaging and lasting impact.”
Background & Resources:
- 373,807 solar jobs in the U.S. – E2.org
- Nearly 400 clean energy business leaders urge President Trump to reject tariffs – E2.org
- Solar energy installers are expected to be the fastest-growing U.S. job – U.S. Labor Department’s Biennial Employment Projections 2016-2026
- In 2016, 1 out of every 50 U.S. jobs were created by the solar industry – The Solar Foundation
- 11 percent of all solar PV workers are veterans – 2017 DOE U.S. Energy and Employment Report
- A tariff would cause solar panel price spikes and disrupt project pipelines in a growing industry worth $29 billion – Bloomberg New Energy Finance
Environmental Entrepreneurs (E2) is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.