Will Biden’s Commerce Department Really Punish Solar In Asia?

Will Biden’s Commerce Department Really Punish Solar In Asia?

President Biden touring a solar facility in New Hampshire. Are these panels all made in Asia? Most ... [+] likely yes. (AP Photo/Elise Amendola) The Commerce Department is back to investigating U. S. solar imports from southeast Asia, most of them from Chinese multinationals, after abandoning a similar investigation late last year. Solar stocks are taking it on the chin. Over the last five days alone, NextEra (NEE) – a Florida-based solar importer and power producer — lost $10 a share. First Solar FSLR , an Ohio-based manufacturer with its own facilities in southeast Asia, has lost about $6 a share. Over the last five days ending on Friday, NextEra stocks have fallen by 11. 2%, underperforming the Invesco Solar (TAN) exchange traded fund, and First Solar, which is down just 7%, likely due to the fact that the market assumes they would be less impacted by tariffs. This is just five days. Year-to-date, NextEra Energy is already in a bear market, down slightly more ... [+] than 20%. Despite high demand for solar and a White House sold on climate change, solar stocks are in trouble. About a month ago, California based solar manufacturer Auxin Solar asked Commerce to