Sungrow Plunges 20% on FCC-Drafted U.S. Ban on Foreign Solar Inverters; Enphase, SolarEdge Rally
- Bloomberg reports Chinese inverter maker Sungrow Power Supply fell as much as 20% on July 1 after the FCC began drafting a ban on imports of foreign energy inverters over fears of hidden 'rogue' communication devices that could let adversaries monitor or remotely shut down U.S. solar and battery assets.
- The proposed rule targets 'new foreign models' and could be published as early as this year, following the European Commission's May move to block EU funding for projects using high-risk suppliers including China.
- U.S. beneficiaries Enphase and SolarEdge previously surged on the draft-ban headlines; Sungrow and Huawei remain dominant low-cost suppliers globally, so the rule would reshape the utility-scale solar supply chain.