President Donald Trump’s trade war won’t wreck the U.S. wind industry, but it will raise the cost of power.
Tariffs on $250 billion of Chinese imports, as well as on metals from Europe and elsewhere, could raise the cost of wind power in the U.S. by as much as 10 percent, Tom Kiernan, chief executive officer of the American Wind Energy Association, said at a conference in New York. Executives from three of the world’s top turbine manufacturers agreed.
“If you close the country to tariffs, prices will increase,” Jose Antonio Miranda Soto, CEO for Siemens Gamesa Renewable Energy SA’s onshore business, said Tuesday at the Wind Energy Finance & Investment Conference. “Tariffs equal higher prices.”
