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Top solar companies, banks and insurers have stopped doing business with at least a half dozen recently built U.S. panel factories because of uncertainty over whether their ties to China could disqualify them from clean-energy subsidies.
The emerging effects dovetail with U.S. President Donald Trump’s broader efforts to block Chinese companies from the U.S. market and to slash government support for green energy. The shift, driven by new Trump administration policies, jeopardizes more than a third of U.S. solar capacity in factories initially built by Chinese firms.
The policy could backfire by imperiling growth in U.S. manufacturing jobs and power generation at a time of rising utility bills and soaring electricity demand from data centers serving the artificial intelligence industry, industry experts say.
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