U.S. Solar Industry Warns Of Slowdown Due To Supply Chain Disruptions, Tariff Uncertainty

• The U.S. solar industry is warning of a big slowdown in project installations this year as global supply chain disruptions and the threat of new U.S. tariffs on panel imports from Southeast Asia hit home. 
• U.S. power company Southern Co (SO.N) on Thursday said nearly a gigawatt of its planned solar energy projects would be delayed by a year, the latest in a string of warnings from companies and industry representatives citing the two issues. 
• A slowdown in the solar industry's growth could pose a threat to the Biden administration's climate goals, which include decarbonizing the U.S. power sector by 2035 through the widespread adoption of wind and solar energy. 
• Earlier this week, the largest solar trade group said it was cutting its solar installation forecasts for this year and next by 46% due to the threat of new tariffs. More than 315 projects are being canceled or delayed, according to the Solar Energy Industries Association. 
• The tariff concerns have added to an array of headaches for U.S. solar developers that include surging costs for components, labour and freight as the global economy recovers from the coronavirus pandemic.

(Source: Reuters)