Solar stocks in partial snapback
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Solar stocks saw a partial recovery Friday after sharp losses a day earlier, as Senate opposition grew against proposed clean energy rollbacks in the House's tax and spending bill. Wells Fargo analysts said the House bill presents a "worst-case scenario" for the residential solar industry,
Rooftop solar shares tumbled after the House passed President Trump’s tax-and-spending package. Tax credits for both utility-sized and small renewable energy projects were expected to be phased out. B
Shares of solar stocks, including rooftop solar provider Sunrun (NASDAQ: RUN), renewables-focused utility NextEra Energy (NYSE: NEE), and renewable power provider AES Corp. (NYSE: AES), plunged on Thursday,
Closing: Markets will watch Senate amendments and any White House signals before the bill's floor vote.
The House of Representatives passed a budget bill with last-minute amendments early Thursday morning that could spell doom for residential solar and
Subsidies for clean power would end years earlier in a giant tax and spending bill narrowly passed by the Republican-led House early Thursday, driving down shares of solar companies.
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Among the changes included in the bill that passed in the Republican-led House was revised language that would end certain tax credits for wind energy and solar energy by 2028, instead of a slower phase-out through 2031. The bill now moves to the Senate.
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