US solar company plans panel factory in Panama to challenge Asia

A small U.S. solar company with no manufacturing experience on Tuesday announced plans to open a solar panel factory in Panama to help the American industry reduce its reliance on Chinese-made goods.

About 90 per cent of U.S. solar panels are made overseas, and that reliance on imports has wreaked havoc on the U.S. solar industry at a time when it is working to satisfy soaring demand from utilities and corporations worried about climate change. John Bereckis, Universal Solar's chief executive, said he began investigating the possibility of opening a facility in Panama last year when the U.S. Commerce Department considered imposing tariffs on imports from Southeast Asian countries - throwing project developers' plans into disarray.

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