The Alliance for American Solar Manufacturing and Trade, which includes stocks like First Solar Inc., Mission Solar Energy and Qcells filed the new anti-dumping and countervailing duty petitions, alleging that China is flooding the market with unfairly cheap goods made in factories located in the above-highlighted Asian countries.
Earlier, the US had already imposed heavy duties on equipment manufactured in Malaysia, Thailand, Vietnam and Cambodia. Indonesia and Laos accounted for 44% of the US cell and module imports in May 2025, compared to just 1.9% in May 2024. Indian solar exports to the US have also risen since mid-2022, according to BloombergNEF data.
Both Waaree and Premier Energies were earlier in the spotlight after the passage of US President Donald Trump’s One Big Beautiful Bill, which was a negative for renewable energy players.
However, Waaree Energies had earlier clarified to CNBC-TV18 that most of these measures are within the residential segment and the company is catered towards the industrial business more.
An earlier note from Jefferies said that the overseas business for Waaree Energies comes almost entirely from the US and accounts for close to 57% of the total order book. The management has said that the overseas business will contribute to 17% to 22% of the company’s overall revenue in financial year 2026.
The company also plans on doubling its US capacity to 3.2 GW by 2026.
Shares of Waaree Energies ended 2.5% lower on Thursday at ₹3,208. The stock has risen 20% in the last one month. Shares of Premier Energies ended little changed on Thursday at ₹1,078.4, and have risen 8% in the last one month.
First Published: Jul 18, 2025 8:27 AM IST
