Inform - New U.S. Steel and Aluminum Tariffs: What Do They Mean for the Cost of Renewables?
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Last week, President Trump codified "Section 232" tariffs on imported raw and semi-finished steel and aluminum. As steel and aluminum are found in critical wind, solar and energy storage components, cost increases will likely trickle into the renewables value chain. That said, the exclusion on finished goods and notable geographic exemptions for Mexico and Canada may blunt the overall project cost impact.
In this note, GTM Research and MAKE analyze potential effect of new U.S. steel and aluminum tariffs on domestic component manufacturers and renewable plant LCOEs.