Will tariffs help or hurt the U.S. energy storage industry? It’s complicated, experts say

President Donald Trump’s combative, chaotic trade policy is already causing problems for the United States’ booming energy storage industry as stock analysts sour on import-reliant OEMs and project developers defer investment decisions. Absent more clarity on longer-term import duties, analysts and corporate insiders say the sector’s challenges could deepen this year and next before global supply chains rebalance.

“We are in a totally different world than last month,” said Ravi Manghani, senior director of strategic sourcing at Anza Renewables.

The most visible effect of the “Liberation Day” tariffs, which Trump has since dialed back for most countries while keeping triple-digit levies on imports from China, could be a dramatic reduction in merchant energy storage development in key markets like Texas, Manghani said.

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