January 26, 2018 / 8:39 AM / 8 months ago

SMA Solar sees small hit to solar market from U.S. duties

FRANKFURT, Jan 26 (Reuters) - SMA Solar, Germany’s largest solar group, expects the global solar market to take a small hit from import tariffs imposed by U.S. President Donald Trump earlier this week, it said on Friday.

“SMA’s market outlook includes a slightly negative impact from the import tariff,” SMA said on slides published during its capital market day, not quantifying the size of the hit.

SMA Solar expects the Americas, which includes the U.S. market, to grow by an average of about 18 percent per year until 2020, less than the 23 percent expected for the Europe, Middle East and Africa region.

Trump on Monday approved a 30 percent tariff on solar cell and module imports, dropping to 15 percent within four years. Up to 2.5 gigawatts of unassembled solar cells can be imported tariff-free in each year. (Reporting by Christoph Steitz; Editing by Tom Sims)

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