News Formal

Solar industry slams 10% duty on solar panels

  • 📰 ITWeb
  • ⏱ Reading Time:
  • 36 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 42%
  • Publisher: 51%

Solar News

International Trade Administration Commission,ITAC,Thomas Bergenthuin

The industry believes the duty will see costs being passed on to the already financially-constrained South African consumer.

Solar panels will now incur a 10% import tax, in an effort to prioritise supporting the local market.

However, the industry believes the move will see costs being passed on to the already financially-constrained South African consumer. Theoretically, he says, duties are normally imposed to protect the local industry, but in South Africa’s case, the local industry is extremely small and unlikely to ever be competitive with the likes of China.

Dr Rethabile Melamu, CEO of the industry body, believes the immediate implication is likely that a 10% price increase will be passed on to consumers to cover any potential problems or delays in importers utilising the rebate mechanism. Melamu explains that SAPVIA is only aware of three operational module assembly facilities in South Africa.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 45. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trade watchdog imposes 10% duty on solar panel imports to ‘protect local industry’MacKay believes the 25% local content requirement on solar panels supplied in the Reippp is already a strong protectionist measure.
Source: TheCitizen_News - 🏆 6. / 75 Read more »