The US on Monday announced a two-year tax exemption period on solar panels manufactured in four Southeast Asian countries, including Viet Nam.

The move is aimed to ensure an adequate supply of panel components to cater for the rising demand for solar energy in the US.

The White House emphasised that technology in clean energy would allow households to cut their electricity bills, reduce power supply risks in the country and ease the pressing crisis caused by climate change.

It has set the target of tripling solar energy production by 2024, from 7.5 gigawatts to 22.5 gigawatts, sufficient to provide electricity to 3.3 million families each year.

US President Joe Biden also activated the Defence Production Act (DPA) to boost solar panel production in the US. — VNS