Solar Stocks Jump. Sunrun up 18.6%; SolarEdge up 10.7%; First Solar up 8%; Enphase Energy up 7%; Daqo New up 6%; JinkoSolar up over 3%
Solar stocks jumped on Thursday. Sunrun up 18.6%; SolarEdge up 10.7%; First Solar up 8%; Enphase Energy up 7%; Daqo New up 6%; JinkoSolar up over 3%.
President Donald Trump's tax-and-spending bill narrowly passed the Senate, shortly after legislators stripped it of a last-minute excise tax on renewable energy projects.
The tax was meant to penalize projects placed into service after 2027 that sourced components from "prohibited foreign entities" such as China.
The legislation now must clear the House, with Republicans striving to meet a self-imposed deadline of July 4. While the GOP has a slight majority in the chamber, some lawmakers have expressed reservations over the bill's cuts to Medicaid as well as its overall cost.
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