Overview

• The U.S. House of Representatives passed President Trump's tax and spending bill, which accelerates the repeal of clean energy tax credits and eliminates the 30% federal rooftop solar credit.
• The legislation also rescinds environmental grants established under the Inflation Reduction Act, targeting pollution reduction and green vehicle initiatives.
• Solar stocks plunged in response, with Sunrun shares dropping as much as 33%, and other companies like SolarEdge, Enphase Energy, and Complete Solaria experiencing significant declines.
• The bill imposes stricter eligibility requirements for renewable projects, mandating construction to begin within 60 days of enactment and completion by 2028 to qualify for tax credits.
• Clean energy industry stakeholders are now shifting their focus to the Senate, launching an aggressive lobbying campaign to reverse or amend the House's provisions before the bill reaches the president.