Trump’s Steel Tariffs May Take a Swipe at Battery-Storage Market
The burgeoning battery-storage industry may become the latest to feel the sting of President Donald Trump’s tariffs on steel and aluminum.
Prices for lithium-ion battery packs dropped 24 percent last year as it became cheaper to make them, according to data from Bloomberg New Energy Finance. But steel tariffs threaten to increase battery-installation costs by as much as 3 percent. (The batteries typically are protected with structures made of metal.)
“The tariffs could slow down some of the aggressive cost declines,” Ray Hohenstein, market applications director at energy storage firm Fluence Energy LLC, said in an interview Wednesday at Infocast’s Solar Power Finance & Investment Summit in San Diego, California.