Zentric, Inc. William Tien, President of Zentric, Inc. is pleased to report that the recent decision by the U.S. Commerce Department to impose new import tariffs ranging from 2.9% - 4.73% on Chinese manufacturers of solar panels will have minimal effect on the acquisition cost that Zentric has secured to fulfill the first 20MW - $72 million phase of the EPC contract its wholly owned subsidiary Zentric (HK) Limited has been awarded in Benson, Arizona. The new tariffs are low, making the Commerce Department decision "a relatively positive outcome for the U.S. solar industry and its 100,000 employees," said Jigar Shah, president of the Coalition for Affordable Solar Energy
Mr. Shah continues, "However, tariffs large or small will hurt American jobs and prolong our world's reliance on fossil fuels. Fortunately, this decision will not significantly raise solar prices in the United States."Mr. Tien remarked, "Zentric has been developing strong relationships with solar panel makers in China as well as in other countries in order to secure the best quality and price for our supply. We are very pleased that the new Import Fees will not significantly affect our suppliers and we will be able to maintain the profit margins we had anticipated."
Mr. Jeff Mak, CEO of Zentric, Inc. adds, "Our patented battery technologies will be a significant advancement for solar farm operators worldwide increasing their efficiency and ROI by increasing power sales to the grid by as much as 30%. This new ruling by the U.S. Commerce Department insures that the ongoing construction and development of solar power plants in the USA will remain robust creating a significant market for our leading edge battery technologies."