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Renewable energy shares mixed as U.S. Senate preserves some tax credits in Trump bill
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Renewable energy shares mixed as U.S. Senate preserves some tax credits in Trump bill
Jun 30, 2025 7:19 AM

June 30 (Reuters) - Shares of U.S. renewable energy firms saw a mixed performance in

early Monday trading after the U.S. Senate advanced President Donald Trump's sweeping

tax-and-spending bill.

The final version preserved tax credits for solar leasing - an arrangement where a

third-party owns and installs a solar panel system on a customer's property for a fee to use the

system and the electricity it generates.

The provision lifted several solar names after weeks of uncertainty. Shares of solar panel

maker First Solar ( FSLR ) rose 7.1% at $163.00 while battery firms Sunrun ( RUN ) climbed 7.8%

to $8.01 and Fluence Energy gained 3.1% to $6.33.

Earlier this month, a Senate panel had proposed phasing out solar and wind tax credits by

2028, as part of changes to Trump's spending bill, causing solar stocks to fall sharply.

Shares of Bloom Energy ( BE ) jumped over 10% as the proposal reintroduced language

qualifying fuel cells for tax credits while Plug Power ( PLUG ) also gained 16.5%, as the

measure extended construction timelines to secure credits.

Not all renewable stocks benefited. Shares of solar battery firm Enphase fell 2.3%

to $39.95, while utility firm NextEra Energy ( NEE/PU ), which owns a portfolio of renewable

assets, declined 5.8% to $66.80.

"We believe the passage of the updated One Big Beautiful Bill in the Senate has mixed

implications for solar-linked clean energy stocks," RBC Capital Markets analysts said in a note.

Analysts cautioned that the market reaction may stay subdued after weeks of volatility.

"I think that in general, we will see mild reaction in the market today. So many of these

stocks have already been pressured when the earlier versions of the bill came out, in both the

House and Senate, over the past six weeks." said Raymond James analyst Pavel Molchanov.

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