MAXN - Solar stocks shine as Biden waives new tariffs on solar panel imports

Shares of solar equipment providers (NYSEARCA:TAN) rally in early trading on Monday, as the Biden administration officially declares a 24-month exemption from solar panel tariffs as well as other moves to spark U.S. solar panel production, authorizing use of the Defense Production Act to accelerate domestic production of clean energy technologies. The White House said it aims to increase domestic solar manufacturing capacity to 22.5 GW by 2024, or triple the manufacturing capacity when President Biden took office. Array Technologies (NASDAQ:ARRY) and Shoals Technologies (NASDAQ:SHLS), two companies with high exposure to the U.S. utility-scale solar market, +18.8% and +18.7% respectively. Also: (FTCI) +20.5%, (DQ) +15.2%, (RUN) +11.7%, (NOVA) +11%, (CSIQ) +8.9%, (SPWR) +8.5%, (MAXN) +8.4%, (JKS) +7.8%, (ENPH) +7.4%, (AZRE) +6.5%, (SOL) +5.9%, (SEDG) +4.5%, (NEE) +2.9%. The executive actions "give project developers and utilities more certainty to continue with projects that have been in development while also providing support

For further details see:

Solar stocks shine as Biden waives new tariffs on solar panel imports