BIO Market News
U.K. Energy and Climate Change Minister Greg Barker said investment in solar power may be jeopardized by European Union tariffs on panels from China and that Britain is pushing for a “sensible” agreement.
The EU on June 5 imposed tariffs of 11.8 percent on panels from China for allegedly selling them in the 27-nation bloc at below cost, a practice known as dumping. The tariff will rise to as high as 67.9 percent after two months, with the lower rate set as an incentive for China to negotiate.
“We are determined to continue to press the European Commission to come to a sensible agreement with China,” Barker said in Parliament today. “We are very concerned by the impact of EU tariffs on the U.K. solar industry. In the last three years we’ve added 2.5 gigawatts here in the U.K., but that could really be jeopardized if these tariffs go ahead.”