“The bottom line, the bifacial exemption, even if it's removed, really has no impact on NextEra.”

In context

“rs, they've typically been around, 10% to 15%. So even if those were to be applied in this case, quite mean, manageable. And the other point I want to make is that what's different is tariffs in this situation would be prospective and not retroactive. And so for all of these reasons, even if something were to move forward, we still have no way of knowing if it will. We are very well positioned to manage through this, like we always do. Our inventory position and the contractual protections that we have in place are expected to give us strong coverage for our backlog through 2027. And by that time, as more and more U.S. production comes online, as expected, these trade issues will fall away. So that's AD/CVD. Let me just turn quickly to a couple of minor comments on the bifacial exemption. The bottom line, the bifacial exemption, even if it's removed, really has no impact on NextEra. Why is that? We've contracted all of our panel needs through February 26, and we have very minimal exposure to the bifacial exemption being removed. And once that bifacial exemption, even if removed, it would expire at the end of February of 2026, and it can't be brought again and reinstated for another eight years. So we feel like we're in a very good spot. And the last point I'll make is as more and more U.S. production capacity comes online and it's actually available by, we will continue to source from U.S. suppliers. So look, when you put all those things together, feel like this is very manageable and feel like we will be fine. Steve Fleishman: That was very thorough and helpful. Thank you, John. And then I guess one other question on the data center. So you talked about the backlog”