The U.S. Senate's proposed "One Big Beautiful Bill" has sparked a sharp decline in solar stocks, following plans to phase out major clean energy tax credits by 2028.
The bill proposes cutting solar and wind incentives to 60% by 2026, 20% by 2027, and ending them entirely by 2028. It also calls for an end to the 30% residential solar tax credit within 180 days of passage.
The news sent solar shares tumbling. Enphase Energy dropped 23.91% to $34.95, SolarEdge Technologies fell 35.90% to $15.37, SunRun lost over 41% to $5.66, and First Solar declined 16.92% to $145.60.
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In contrast, the bill preserves full tax credits for hydro, nuclear, and geothermal energy until 2033, with a phase-out by 2036—signaling a shift back to Trump-era energy preferences.
Industry players fear the cuts could hinder solar adoption, raise costs, and slow the U.S. clean energy transition. The uncertainty has already shaken investor confidence and forced companies to rethink growth strategies.
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