2026-05-08T10:03:27.069Z / 路透社
- 安装商、银行、保险公司回避与中资有关的美国太阳能工厂
- 行业等待新补贴限制政策的指导细则
- 融资延迟威胁美国新增电力产能，而需求正持续飙升
5月8日（路透社）——据行业高管和路透社查阅的文件显示，由于不确定其与中国的关联是否会导致他们丧失清洁能源补贴资格，顶级太阳能企业、银行和保险公司已停止与至少六家近期投产的美国光伏组件工厂开展业务。
这一转变由特朗普政府的新政策推动，危及了由中资企业最初投建的工厂中超过三分之一的美国太阳能产能。政策不确定性正迫使安装商和保险公司远离与中资有关的美国太阳能工厂，这一细节此前从未被报道过。
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行业专家表示，这种正在显现的影响与美国总统唐纳德·特朗普遏制中国企业进入美国市场、削减政府对绿色能源支持的 broader 整体计划不谋而合。但在公用事业账单上涨、人工智能行业数据中心用电需求飙升之际，这一政策可能适得其反，危及美国制造业就业岗位和发电能力的增长。
美国最大的住宅太阳能安装商Sunrun正是如今回避中国供应商的企业之一。
“这正拖延着急需的太阳能和储能项目的融资，”诺顿·罗斯·富布赖特律师事务所专门处理可再生能源税收交易的律师基思·马丁说道。
这一对美国制造业可能产生深远影响的事件凸显了与中国在可再生能源和绿色技术领域的全球主导地位脱钩的难度，而中国的主导地位很大程度上源于北京方面对中国企业的巨额补贴。
中国产业政策的全球影响力给美国监管机构带来了两难困境：他们既希望阻止中国企业，又不想危及那些依赖中国设备和技术来生产具有竞争力且价格合理产品的美国太阳能制造商。
美国企业表示，如果国内太阳能制造业无法实现强劲增长，美国除了进口中国企业生产的组件之外几乎别无选择，这将导致价格上涨。
“这无疑将继续推高美国的电力成本，”可再生能源开发商Renewable Properties首席执行官亚伦·哈利米说道。该公司位于旧金山，主要开发小型公用事业项目，目前已将大部分采购转向位于亚利桑那州坦佩的First Solar，以避开与中国有关联的供应商。
美国太阳能投资领域出现的新不确定性源于特朗普支持的《宏大美好法案》中的相关条款。该法案由共和党控制的国会于2025年通过。
该法案削减了拜登时代的清洁能源补贴，并限制包括中国在内的特定外国国家获取剩余的补贴。美国财政部尚未就该法律的实施细则发布完整指导，财政部发言人也拒绝透露指导文件的发布时间表。
特朗普希望快速扩张美国电网，为美国的数据中心提供能源。但电力行业专家表示，太阳能发电装置搭配可在日照不足时启用的电池储能系统，是扩大发电能力的最快途径，因为它们比天然气、煤炭或核电站更容易建设。
特朗普曾称可再生能源不可靠且成本高昂，并出台政策推动化石燃料发电的扩张。
白宫未回应置评请求。
中国驻华盛顿大使馆发言人批评美国的限制措施具有歧视性，并表示北京方面将捍卫其企业的利益。
中资太阳能企业试图合规——但存在漏洞
据伍德·麦肯齐咨询公司的数据，中国控制着全球约80%的太阳能设备制造业。包括隆基、天合光能等在内的中国企业，在前总统乔·拜登2022年的气候变化法案为清洁能源工厂提供税收抵免后，是最快在美国建厂并投入运营的企业之一。
据美国太阳能工业协会的数据，自那时以来，太阳能设备制造商已宣布近430亿美元的投资，预计将创造4.8万个就业岗位。
国内制造业目前已与美国对光伏组件的需求相匹配，无需再进口组件。但如果受监管不确定性影响的大量美国工厂无法继续竞争，这种情况可能会改变。
特朗普支持的法案规定，申请联邦补贴的工厂中，中国企业的持股比例不得超过25%，并设定了采购要求，同时禁止中国企业“实际控制”这些工厂。企业表示，包括太阳能制造和安装税收抵免在内的补贴，是保持竞争力的关键。
中国企业试图通过出售工厂股份或其他方式进行重组来合规。但路透社查阅的企业披露文件显示，大多数企业仍保留着与美国工厂的财务联系，有时表现为利润分成或供应协议。
行业官员质疑，这些剩余的联系是否会使这些工厂丧失美国清洁能源制造业税收抵免的资格。由于财政部尚未发布指导细则，包括行业巨头Sunrun在内的安装商正在回避这些工厂，而银行和保险公司则拒绝提供融资和保险。
缩减 approved 供应商名单
路透社看到的一份文件显示，Sunrun在1月份向安装合作伙伴发布了一份精简后的合格太阳能组件供应商名单。
该名单仅包含非中国制造商，如Qcells、REC、Silfab和Elin。此前，该名单曾包括加拿大太阳能、晶科能源、晶科能源、隆基和天合光能——所有这些企业均与中国有关联。
“我们采取了保守立场，不会从可能引发合规担忧的制造商处采购设备，”Sunrun副首席财务官帕特里克·若宾在给路透社的一份声明中说道。
总部位于北卡罗来纳州的屋顶太阳能面板销售商Palmetto的总经理肖恩·海耶斯表示，尽管相关企业试图合规，但该公司仍在避开与中国有关联的生产商。
与此同时，据三位熟悉交易情况的匿名人士透露，包括摩根士丹利、摩根大通和高盛在内的银行已缩减了部分太阳能项目的税收股权融资规模，原因是担心财政部未来的解释可能会追溯性地使税收抵免失效。
这些银行拒绝置评。
保险经纪商马什的税收保险专家安东尼·乔伊斯表示，保险公司的态度更为强硬，拒绝为企业面临的被禁止获得清洁能源税收抵免的风险提供保险。
“目前处境最佳的企业无疑是那些与受关注国家没有明确所有权联系的企业，”会计事务所贝客天佑的合伙人彼得·亨德森说道，他表示财政部预计发布的指导细则将至关重要。
代表美国本土工厂非中资企业的贸易组织“美国太阳能制造商联盟”，包括First Solar和韩华旗下的Qcells，已敦促财政部采取强硬立场。
“最明确的合规方式”
迫使企业回避的核心问题是，中国企业仍与他们的美国工厂保持联系，而非彻底切割。最初由中资企业投建和运营的工厂，占美国目前约66吉瓦运营中的太阳能组件制造产能的至少25吉瓦。
“实际上，几乎没有中国制造商能够彻底与他们的美国工厂脱钩，”伍德·麦肯齐分析师埃莉萨·皮尔斯说道。
在佛罗里达州运营工厂的中国晶科能源，以及在北卡罗来纳州生产面板的Boviet Solar的中国母公司，均表示正在寻找外部投资者。
Invenergy的一位消息人士透露，由中国隆基和芝加哥Invenergy合资成立的Illuminate USA，已将这家2024年投建的俄亥俄州工厂中中方的持股比例降至25%以下，并重新谈判了与隆基的知识产权协议。
但Invenergy不确定这家雇佣了约1700名工人的工厂能否存续。Illuminate和隆基未置评。
今年3月，该公司在致美国国税局的评论中呼吁明确指导细则，称：“Illuminate USA和其他美国制造商的持续运营仍面临风险。”
由尼科拉·格鲁姆报道；理查德·瓦尔德马尼斯和大卫·加芬编辑
Trump’s crackdown on China-linked solar firms stalls U.S. factory boom
2026-05-08T10:03:27.069Z / Reuters
- Installers, banks, insurers shun China-linked U.S. solar factories
- Industry awaits guidance on new subsidy restrictions
- Financing delays threaten new U.S. power capacity as demand soars
May 8 (Reuters) – 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, according to industry executives and documents reviewed by Reuters.
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. Details of how the policy uncertainty is driving installers and insurers away from U.S. solar factories with China ties have not been previously reported.
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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. However, 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.
Sunrun
, the largest U.S. residential solar installer, is among the companies now avoiding Chinese suppliers.
“It’s holding up financings of desperately needed solar and storage projects,” said Keith Martin, an attorney at Norton Rose Fulbright who advises on renewable energy tax deals.
The potentially far-reaching effects on U.S. manufacturing underscore the difficulty of decoupling from China’s global dominance of renewable energy and green technologies, driven largely by Beijing’s own heavy subsidies for Chinese firms.
The global reach of China’s industrial policy creates a dilemma for U.S. regulators who want to block Chinese firms without imperiling U.S. solar manufacturers that depend on Chinese equipment and technology to produce competitive and affordable products.
Without robust growth in domestic solar manufacturing, the United States has few options for expanding renewable power beyond importing panels made by Chinese companies, which will lead to higher prices, U.S. executives say.
“This is undoubtedly going to continue to increase the cost of power in the United States,” said Aaron Halimi, chief executive of Renewable Properties, a San Francisco developer of small-scale utility projects that has shifted most of its sourcing to Tempe, Arizona-based First Solar
to avoid suppliers with China links.
The fresh uncertainty in U.S. solar investments stems from provisions in the Trump-backed “One Big Beautiful Bill” that the Republican-controlled Congress passed in 2025.
The legislation slashed Biden-era clean-energy subsidies and restricted certain foreign countries, including China, from securing those that remained. The U.S. Treasury Department has yet to provide full guidance on how the law will be implemented, and a department spokesperson declined to give a timeline for when that guidance would be published.
Trump wants to rapidly expand the U.S. power grid to fuel American data centers. But power-industry experts say solar installations, combined with battery storage that clicks on when the sun isn’t shining, are the quickest way to expand electricity generation because they’re easier to build than gas, coal or nuclear plants.
Trump has called renewable energy unreliable and expensive and enacted policies promoting expansion of fossil fuel power sources.
The White House did not respond to a request for comment.
A spokesperson for China’s embassy in Washington criticized the U.S. restrictions as discriminatory and said Beijing would defend its companies’ interests.
CHINESE SOLAR FIRMS COMPLY – WITH A CATCH
China controls about 80% of global solar equipment manufacturing, according to Wood Mackenzie. Its companies, including LONGi, Trina, and others, were among the quickest to build and operate U.S. factories when former President Joe Biden’s 2022 climate-change law created a tax credit for clean-energy factories.
Since then, solar equipment makers have announced nearly $43 billion in investments supporting a projected 48,000 jobs, according to the Solar Energy Industries Association.
Domestic manufacturing is now aligned with U.S. demand for solar panels, eliminating the need for panel imports. But that could change if a significant portion of U.S. factories caught up in the regulatory uncertainty are unable to compete.
The Trump-backed legislation restricts Chinese companies to 25% ownership stakes in plants seeking federal subsidies, imposes sourcing requirements, and prohibits “effective control” by Chinese firms. Companies say the subsidies, which include tax credits for solar manufacturing and installation, are crucial to remaining competitive.
Chinese companies have sought to comply by selling off factory stakes or otherwise restructuring. But most have preserved financial links to their U.S. plants, sometimes in the form of profit-sharing or supply deals, according to a Reuters review of corporate disclosures.
Industry officials have questions about whether those remaining links disqualify the factories from U.S. clean energy manufacturing credits. Absent guidance from the Treasury Department, installers including industry behemoth Sunrun are shunning these factories, while banks and insurers are withholding financing and coverage.
PARING BACK APPROVED SUPPLIERS
Sunrun in January circulated a pared-down list of approved solar-panel suppliers to installation partners, according to a document seen by Reuters.
The list included only non-Chinese manufacturers such as Qcells, REC, Silfab and Elin. Previously, it had included Canadian Solar
, JA Solar
, Jinko
, LONGi
and Trina
- all of which are China-linked.
“We have taken a conservative stance and do not procure equipment from manufacturers that would raise compliance concerns,” Sunrun Deputy Chief Financial Officer Patrick Jobin said in a statement to Reuters.
Palmetto, a North Carolina-based company that sells rooftop solar panels, is also steering clear of China-linked producers despite their attempts at compliance, general manager Sean Hayes said.
Meanwhile, banks including Morgan Stanley, JPMorgan and Goldman Sachs have scaled back tax-equity financing for some solar projects due to concerns that future Treasury interpretations could retroactively invalidate tax credits, according to three people familiar with the deals who spoke on condition of anonymity.
The banks declined to comment.
Insurers have taken a harder line, refusing to insure companies against the risk they will be barred from clean-energy tax credits, according to Antony Joyce, a tax-insurance specialist at broker Marsh.
“The companies that are best positioned right now are certainly the ones that didn’t have clear ownership ties to a country of concern,” said Peter Henderson, a principal at accounting firm Baker Tilly, who said Treasury’s expected guidance will be crucial.
The Solar Energy Manufacturers for America Coalition, a trade group representing non-Chinese companies with U.S. factories, including First Solar and Hanwha’s Qcells
, has urged the Treasury Department to take a tough stance.
‘CLEAREST WAY TO COMPLY’
The core issue driving firms away is that Chinese companies are maintaining ties with their factories instead of making a clean break. Factories that were originally built and operated by China-linked producers account for at least 25 gigawatts of the nation’s about 66 GW of operating solar module manufacturing capacity.
“Very few Chinese manufacturers are actually decoupling themselves from their U.S. factories entirely,” said Elissa Pierce, an analyst at Wood Mackenzie.
China’s JinkoSolar
, which operates a factory in Florida, and the Chinese parent company of Boviet Solar
, which produces panels in North Carolina, have said they are looking for outside investors.
Illuminate USA, a joint venture between China’s LONGi and Chicago-based Invenergy, reduced the Chinese firm’s ownership stake in an Ohio plant built in 2024 to below 25% and renegotiated its intellectual property agreement with LONGi, according to an Invenergy source.
But Invenergy is unsure if the plant, which employs around 1,700 workers, will survive. Illuminate and LONGi did not comment.
In March comments to the Internal Revenue Service urging clear guidance, the company said: “The continued operation of Illuminate USA and other U.S. manufacturers remains at risk.”
Reporting by Nichola Groom; editing by Richard Valdmanis and David Gaffen