Athira Sethu
Kochi, 15 Sep 2026
Shares of Indian solar firms that have considerable presence in the US market will be in focus when markets open on Tuesday, September 15, following the high duties imposed by the US on the import of solar items from India.
The US Department of Commerce has finalized duties on anti-dumping and countervailing on imports of solar cells and modules manufactured by the producers/exporters of India, Indonesia and Laos. According to the US, there were subsidies given to the manufacturers/exporters of the products from these countries and the products were available in the US market at undervalued prices.
As per the PTI report, the rate of anti-dumping duties imposed by the US on producers of India is 123.04%. The rate of duty is 94.36% in case of Indonesian producers, and in case of producers of Laos, the rate is 65.43%.
In addition to the anti-dumping duties, the US has also imposed countervailing duties. In case of Indian producers, the rate is 126.09%. For the producers of Indonesia, the rate of duty varies between 73.25% and 173.7%. For the producers of Laos, the duty is 82.03% to 153.67%.
This move followed a petition filed by the Alliance for American Solar Manufacturing and Trade.
Waaree Energies
Waaree Energies should attract significant investor interest due to high exposure to the US solar market. The company has a subsidiary in the US, Waaree Solar Americas, and has been expanding its manufacturing activities in the region. Also, the stock has been reacting to some previous events concerning duties on Indian solar products imposed by the US.
Premier Energies
Premier Energies is another company that might continue being of interest for investors. One of its subsidiaries, Premier Energies Photovoltaic Private Limited, received a final anti-dumping margin of 123.04%. Investors will be watching how the new US duties will impact the exports of the company.
Vikram Solar
Also, Vikram Solar, an important manufacturer of Indian solar cells and modules, might attract investors’ interest. Even though the company has not been specifically mentioned in the final Commerce Department table, investors have been monitoring it due to the ongoing US investigation of Indian solar imports.
What follows now?
The US International Trade Commission will have to rule on whether these imports had caused any damage to the American solar panel manufacturers. The ruling is due on October 14.
In case of a positive ruling, the US Department of Commerce will announce the duty orders by November 2. In case of a negative ruling, the investigation will come to an end.
What do these duties mean?
An anti-dumping duty is a supplementary duty levied in case of accusation against foreign firms of selling products at lower than normal prices.
A countervailing duty is a supplementary duty levied in case of receipt of any government subsidy by the foreign firms giving them an advantage.
