Solar panel shipments to the US decreased in the third quarter, returning to the prior pattern of declining imports after a jump in the second quarter, according to S&P Global Market Intelligence Global Trade Analytics Suite.
At the same time, prices for imported solar panels have been on the rise.
The US imported 6,907 MW of panels during the quarter, down 35% from the 10,632 MW in the previous quarter and down 54.8% from the 15,271 MW of imports in the third quarter of 2024. The release of the trade figures was delayed compared to previous quarters, likely due to the US government shutdown.
The decline follows President Donald Trump’s signing of the budget reconciliation bill on July 4 and a ramp-up in domestic manufacturing. The bill accelerated the phaseout of key tax credits and added new restrictions, including for foreign entities of concern. Imports also face tariffs, including nation-specific tariffs in place, adding another element for companies to navigate.
Indonesia was the largest source of module imports with 46.7%, followed by Laos at 18.7%, India at 14.3%, Vietnam at 8.8% and Ethiopia at 3.4%.
Ethiopia joined the top five exporters to the US in the third quarter, and Thailand and Malaysia dropped to sixth and seventh place, respectively. This highlights tariff-driven supply chain shifts not only from nation-specific tariffs, but also from new antidumping and countervailing duties.
The US imported 3,644 MW of cells in the third quarter, down 59.4% from the 8,973 MW in the second quarter and down 19.4% from the 4,519 MW in the prior-year quarter.
