WEC · 10-Q · 2026Q2 · Full report

Trade Policy and Supply Chain Impacts

WEC ENERGY GROUP, INC. · 2026-08-04 · Importance 37 · Surprise 42 · In source text

The U.S. Department of Commerce and U.S. International Trade Commission imposed duties beginning in June 2024 on certain solar-cell imports from Malaysia, Vietnam, Thailand, and Cambodia after finding that Chinese manufacturers shifted production to avoid China tariffs. Additional duties became effective in May 2025 after findings that Chinese companies moved solar operations to avoid prior penalties, increasing U.S. solar-material costs and delaying projects. New antidumping and countervailing-duty investigations involving Chinese-owned manufacturers in Laos and Indonesia and India-headquartered companies produced preliminary countervailing findings in February 2026 and preliminary antidumping findings in April 2026; final rates are expected in fall 2026 and may create further cost increases or project delays. WEC is monitoring potential impacts on its solar projects and evaluating whether it or its contractors and developers can seek refunds of tariffs paid under the International Emergency Economic Powers Act and other provisions.

Key facts

• Final AD/CVD rates are scheduled to be released in the fall of 2026, at which time the DOC will begin collecting final tariff amounts. source
• The DOC set duties on solar panels and cells imported from four southeast Asian countries and preliminary duties on imports from Laos, Indonesia, and India, and the forecasted costs above already reflect some of these impacts. source
• Some suppliers have been able to provide CBP sufficient documentation to meet UFLPA compliance requirements, and the company expects the same will be true for subsequent projects though long-term impact on solar supply is uncertain. source
• In April 2025, the DOC reached affirmative findings that some Chinese companies had moved operations to avoid penalties, increasing tariff rates which became effective and enforceable in May 2025, impacting U.S. solar panel cost and availability. source
• In August 2025 the DOC and USITC initiated new AD/CVD investigations concerning Laos, Indonesia, and India; in February 2026 the DOC reached affirmative findings in its CVD investigation and released preliminary tariff rates, and in April 2026 the DOC issued preliminary affirmative findings in its AD investigation. source
• In 2025, DHS added more Chinese businesses to the UFLPA list, including several solar supply chain providers, and the company is working with contractors to avoid doing business with these companies. source
• The company stated these new tariffs may cause further cost increases or delays in the U.S. solar industry and it is monitoring the tariffs for potential impact on its solar projects. source
• The company is evaluating whether it is eligible to seek refunds or require contractors to seek refunds of tariffs paid under the International Emergency Economic Powers Act and other tariff provisions. source

Impact estimates