WASHINGTON (Pakistan Point News / Sputnik - 06th June, 2022) US President Joe Biden on Monday will use his executive authority to boost the production of solar panels and other clean energy products as the country grapples with the soaring energy costs, CNN reported on Monday, citing a source familiar with the matter.
"As part of his multi-pronged approach to accelerate the transition to clean energy made here in America and reduce energy costs, the President on Monday will invoke the Defense Production Act to rapidly expand domestic production of critical clean energy technologies," the source told CNN.
As part of the executive action, the Biden administration will temporarily lift anti-circumvention tariffs on solar technology for two years, Solar Energy Industries Association President Abigail Ross Hopper told CNN in a statement.
Biden will also leverage Federal purchasing power to support the solar industry, according to the report.
Western sanctions on Russia over its military operation in Ukraine have resulted in disruptions in supply chains and a spike in energy prices worldwide.
Russia launched a special military operation in Ukraine in late February, after the Donetsk and Luhansk People's Republics (DPR and LPR) appealed for help in defending themselves against Ukrainian provocations. The West and its allies responded by imposing comprehensive sanctions against Russia, prompting many foreign companies to suspend operations in the country. Moscow has taken a number of retaliatory measures.
