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SunPower likely to expand U.S. manufacturing as tariffs weigh

Published 03/16/2018, 11:35 AM
Updated 03/16/2018, 11:40 AM
© Reuters. SunPower Corporation Chief Executive Tom Werner looks on during an interview with Reuters in Mexico City
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(Reuters) - SunPower Corp (O:SPWR) on Friday said it was strongly considering expanding its solar panel manufacturing in the United States as it grapples with the Trump administration's tariffs on solar imports.

The news came as the company filed a request to exempt some of its foreign-made panels from the new 30 percent tariffs.

In the filing, SunPower argued that its highly efficient, premium-priced solar panels cannot be compared with the more conventional models that dominate the market.

In an interview, Chief Executive Tom Werner said it was not seeking an exemption for its less efficient and expensive "P-series" panels and would likely set up a new U.S. manufacturing plant for that product.

© Reuters. SunPower Corporation Chief Executive Tom Werner looks on during an interview with Reuters in Mexico City

An exclusion of its other products from the tariffs "just makes it far easier to make that investment," Werner said.

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