U.S. solar panel imports from China rising, top White House advisor says
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U.S. imports of solar panels from China are rising as customs officials have clarified rules around complying with the law banning goods made with forced labor, senior White House advisor John Podesta said Monday, according to Reuters.
The move should alleviate some gridlock in U.S. solar project development from implementation of the Uyghur Forced Labor Protection Act, which went into effect last June.
Chinese solar manufacturer Trina Solar told Reuters that more than 900 MW of solar panels has cleared U.S. customs in the last four months, with less than 1% detained for examination.
Trina rival Jinko Solar (JKS) also had shipments released from detention, Reuters reported, citing a source close to the company.
Solar names closed mostly higher in Monday's trading, including Sunnova (NYSE:NOVA) +4.2%, Enphase Energy (NASDAQ:ENPH) +3.7%, Canadian Solar (CSIQ) +2.3%, Maxeon Solar (MAXN) +2.2%, SolarEdge Technologies (SEDG) +1.7%.
Solar stocks (NYSEARCA:TAN) generally look "good on valuation, weak on technicals," Mike Zaccardi writes in an analysis published recently on Seeking Alpha.