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Refer to the In the News below: World View: U.S....

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Accounting

Refer to the In the News below:

World View: U.S. Imposes Tariffs on Solar Panels from China

Last year, China sold more than $2 billion worth of solar panels and equipment in the United States, about a third of all sales. Domestic producers say those sales were unfairly facilitated by Chinese government subsidies and deliberate dumping. Chinese solar panels sell for about 70 cents per watt, compared with 83 cents per watt for panels produced in the United States. The market for panels in 2014 is expected to hit 6,000 megawatts.

On Friday, the Commerce Department sided with domestic producers, concluding that Chinas solar equipment was being sold at unfairly low prices. To offset that unfair price advantage, the department imposed tariffs of 26 percent or more on imported Chinese panels. Several U.S. manufacturers said the move would prompt them to expand production capacity in the United States.

How much money did U.S. consumers save as a result of this price difference if they purchased 2,000 megawatts of Chinese paneling in 2013 (1 megawatt = 1 million watts)?

By how much did the price of Chinese solar panels rise in 2014 as a result of the new tariff?

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