Solar stocks slide as Trump's tax bill advances in US House

Sunpower

22/05/2025 10:05

** Shares in U.S. solar energy groups fall premarket

** U.S. President Donald Trump's sweeping tax bill, that would end many green-energy subsidies, advanced toward Thursday vote for passage in the U.S. House of Representatives

** Sunrun RUN.O tumbles 12.6%, First Solar FSLR.O down 3%, Enphase Energy ENPH.O declines 3.7% and Solaredge Technologies SEDG.O sheds 5.3%

** Array Technologies ARRY.O dips 2.5% and Nextracker Inc NXT.O falls 2.5%

** Last week, companies that put solar panels on U.S. homes said the Republican budget bill would deal a massive blow to the industry by eliminating a generous subsidy for homeowners that had buttressed the industry's growth

** The bill would scrap a 30% federal credit for taxpayers who put up rooftop systems, stifling an industry that has grown ten-fold over the last decade and which now employs more than 100,000 workers, industry players said

** Inveso solar ETF PAN.P dips 5.2% after climbing ~60% over the past 12 months

(Reporting by Medha Singh)

((medha.singh@thomsonreuters.com))