SOURCE: Paragon Financial Limited

Paragon Financial Limited

March 13, 2012 08:20 ET

Potential Antidumping Measures Could Slow Growth in Solar Industry

The Paragon Report Provides Equity Research on LDK Solar & MEMC Electronic Materials

NEW YORK, NY--(Marketwire - Mar 13, 2012) - Recently, seven North American solar manufacturers filed a complaint with the Commerce Department and International Trade Commission seeking tariffs of 100 percent or more on low cost Chinese solar panels. Several U.S. solar-equipment manufacturers claim they are being harmed because China's government uses cash grants, discounts on raw materials, preferential loans and tax incentives, and manipulates its currency to boost exports of solar cells. The Paragon Report examines investing opportunities in the Solar Industry and provides equity research on MEMC Electronic Materials Inc. (NYSE: WFR) and LDK Solar Co. (NYSE: LDK). Access to the full company reports can be found at:

Last week, the U.S. Commerce Department announced that it delayed a decision on antidumping duties for Chinese solar-cell imports following three postponements in its separate decision on countervailing duties. Anti-dumping duties apply to goods sold overseas at or below the price in the home country. Countervailing duties seek to offset the benefits of government subsidies to industries, Bloomberg reports. The postponement follows delays in the agency's determination of countervailing duties. The investigation into China's subsidies for the nation's solar companies has been "extraordinarily complicated," according to a recent notice in the Federal Register.

A preliminary determination will be made on May 17, Tim Truman, a department spokesman, said.

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According to the Coalition for American Solar Manufacturing (CASM), the U.S. now has a $1.6 billion trade deficit with China. CASM -- which supports the antidumping measures -- concludes that the deterioration of U.S. solar manufacturing due to unfair trade practices has turned America's $1.9 billion global trade surplus into a $1.5 billion trade deficit.

Not all solar manufacturers support the tariffs. Some domestic solar companies and U.S.-based affiliates of Chinese manufacturers, such as MEMC Electronic Materials, say imposing duties on imported panels from China would be a net job killer, slow the deployment of renewable energy and potentially fuel a trade war with China.

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