US exempts tariffs on solar panels imported from Vietnam

07/06/2022 10:35 - 89 Views

US President Joe Biden on June 6 announced a 24-month tax exemption for solar panels imported from four Southeast Asian countries, including Vietnam, to promote clean energy production in the country.

In a statement, the White House said the tax exemption applies to solar panels imported from Vietnam, Cambodia, Malaysia and Thailand.

With this decision, the US is able to ensure a sufficient supply of parts to meet power generation needs while domestic solar power production increases.

President Biden also activated the Defense Production Act (DPA) to boost solar panel production in the US.

The White House emphasized that clean energy technologies now play an important part in reducing energy costs for homes, thus minimizing risks to the electricity supply in the country.

The US aims to triple the amount of solar electricity produced by 2024, from 7.5 gigawatts to 22.5 gigawatts, that is enough to power 3.3 million households in the country each year.

Source: VOV