Clean Energy Stocks Tumble on Solar, Wind Credit Repeal

Clean-energy names took a beating after Trump signed an order to tighten up or scrap solar and wind tax breaks from last week's Big Beautiful Bill.

Enphase ENPH led the slide, down 5.1%, with AES AES off 4.1%. NextEra NEE dipped 3.8%, First Solar FSLR shed 3.4% and NRG NRG lost 3.2%. Smaller players felt it even harderSunrun RUN plunged nearly 10%.

The gist? Projects must start construction by 2026 or lose the 30% credit, and any wind or solar that breaks ground after then needs to be in service by end-2027. Trump argued wind and solar hurt grid reliability and risk U.S. dependence on foreign supply chains.

This abrupt shift reshapes renewables' playbook. Developers will scramble on pipelines, cost models and any pushback in Congress as they figure out how to keep projects alive without the old incentives.