Statement on ITC Recommendations - Tony Clifford, Standard Solar

"Today's decision will have little or no immediate effect on the industry. These are only the ITC's recommendations-and there are three of them! What does matter is if President Trump selects one recommendation, rejects all of  them-or if he comes up with something completely different, as he has the power to do. The good news is that none of the three recommendations even get to 50% of what the Petitioners were seeking. The bad news is that all of them would still severely damage the solar industry.

The solar industry is a major source of new working class and middle-class jobs in this country, so even at a political level, it isn't in President Trump's interest to severely damage the solar industry. According to the Department of Energy, two-thirds of the 370,000 jobs in the solar industry don't require a college degree. Those are the kinds of jobs the United States needs to rebuild the middle class President Trump says he's committed to helping.

I hope President Trump will consider what the Wall Street Journal has editorialized about the negative impact and unfairness of severe tariffs on the American solar industry. Moreover, he should look at the two bankrupt companies that brought this case to the ITC-Suniva and Solar World. Interestingly, as noted by Commissioner Broadbent in his statement neither of the companies provided an "adjustment plan" showing how they would able to compete effectively after a quota was imposed.  

As Sean Hannity of Fox News noted, Suniva and Solar World are "failed foreign solar companies" looking for a "bailout for their foreign financiers." Let's not forget: Suniva is controlled by a foreign hedge fund and Solar World was financed by a foreign royal family. Surely President Trump is going to favor working class and middle class American families over foreign investors in companies with failed business plans, isn't he?

Standard Solar's focus on the commercial segment of the industry insulates us a bit from the effects of an adverse decision by the Trump Administration, but the rise in module prices will affect us somewhat. In addition, entire markets-the Midwest and Southeast, for example-could be single-handedly destroyed depending on how harsh the sanctions are.

I foresee a chaotic time for the next 12 to 18 months as markets readjust their expectations downward to manage their businesses at any higher cost point. Standard Solar is better situated than most solar companies because of our financial resources and major markets in states with high electricity prices."

- Tony Clifford, chief development officer, Standard Solar

Standard Solar | www.standardsolar.com