Shares of domestic solar firms, namely Waaree Energies Ltd and Premier Energies Ltd, fell nearly 2% on 18th July, after US solar manufacturers filed new trade petitions against India, Indonesia, and Laos, alleging unfair practices by largely Chinese-owned companies operating in these countries.

The Alliance for American Solar Manufacturing and Trade, which includes companies like First Solar Inc., Mission Solar Energy, and Qcells, has filed new anti-dumping and countervailing duty petitions. The group alleges that China is flooding the US market with inexpensive solar products manufactured in factories located in India, Indonesia, and Laos.

The US had already imposed steep duties on solar equipment from Malaysia, Thailand, Vietnam, and Cambodia. Imports from Indonesia and Laos surged to 44% of total US solar cell and module imports in May 2025, up from just 1.9% a year earlier. Indian exports to the US have also increased since mid-2022, according to BloombergNEF.

Waaree and Premier Energies had previously come under pressure after the passage of former US President Donald Trump’s One Big Beautiful Bill, which was seen as a setback for renewable energy players.

Waaree Energies, however, had clarified that it mainly focuses on the industrial segment, not the residential segment, which is where most of the new measures apply. The company also plans to double its US capacity to 3.2 GW by 2026.

At 1:54 PM, Waaree Energies was down 2.34% at Rs 3,131 & Premier Energies was down 1.46% at Rs 1,064.50 on NSE.

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