Stock Groups

Exclusive-Biden to use executive action to spark stalled solar projects amid tariff probe -sources -Breaking

[ad_1]

© Reuters. After returning from Marine One, U.S. President Joe Biden walks along the South Lawn with his first wife, Elizabeth Frantz, U.S.A. June 5, 2022. REUTERS/Elizabeth Frantz

Jeff Mason

WASHINGTON, (Reuters) – President Joe Biden will take executive action Monday in an effort to close a gap in solar panel supplies and restart stalled U.S. projects. This is after a Commerce Department investigation effectively frozen imports from important foreign suppliers. Sources familiar with the matter stated that this was done to address concerns.

Sources said that Biden will also invoke the Defense Production Act in order to encourage U.S. production of solar panels, and other clean technology products with support from loans and grants.

[ad_2]