US slaps solar tariffs, Indian module makers unfazed

renewable energy. "So, our companies will have to challenge that in the appellate forum; but until then, this will continue, this 126% which has been imposed," he said.

The Indian government is "not in the picture," Sarangi said, adding embassy support may be, however, provided to the affected parties.Meanwhile, Waaree Energies said its existing US orderbook would not be affected by the new duty. India's largest solar panel exporter said the duty applies to made-in-India cells, while Waree sources cells from lower-duty regions to make and ship modules to the US.Emmvee Photovoltaic Power Ltd, another domestic solar cell maker, said it was fully insulated from the new duty as it sells exclusively in the domestic market.

“With a strong focus on the Indian market and domestic consumption of its cell output, the company remains insulated from external trade developments of this nature,” the company said in a statement.Premier Energies and Vikram Solar also sell solely in the domestic market. Adani New Industries Ltd has already shifted its focus to the domestic market as a temporary measure weeks before the duties were announced, Mint reported on 11 February.The US Department of Commerce on Tuesday announced 125.87% preliminary countervailing duty on solar modules manufactured in India, accusing the New Delhi of unfairly subsidizing exports.

The world’s prominent solar market also levied similar duties on Indonesia (104.38%) and Laos (80.67%).The US is a rapidly growing solar cell market as it needs more clean electricity to feed its power-hungry data centres, which are handling a surge in demand from artificial intelligence. It is also a market offering better margins than others.Sehul Bhatt, director at Crisil Intelligence,