Solar stocks plunge as Republican tax bill worse than feared for clean energy
In short
Republican tax legislation has led to a 37% drop in Sunrun's stock price and a 19% and 24% drop in Enphase and SolarEdge's stock prices, respectively. The bill also ends investment and electricity production credits for clean energy facilities, leading to a 3% drop in Array and Nextracker's stock prices, and a 4% drop in First Solar's stock price.
Key points
- Republican tax legislation has led to a decline in solar stocks.: Republican tax legislation has led to a decline in solar stocks.
- The bill has ended investment and electricity production credits for clean energy facilit…: The bill has ended investment and electricity production credits for clean energy facilities.
- The Senate is expected to make changes to the legislation.: The Senate is expected to make changes to the legislation.