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Benzinga
Benzinga
Business
Erica Kollmann

Trump's Big Bill Rocks Clean Energy Stocks, Except Rooftop Solar

Donald Trump Sunrun China Nasdaq United States
Clean,Energy,For,Transportation.,Wind,Turbine,And,Solar,Panel.green,Leaf

Clean energy stocks reacted on Monday after President Donald Trump's new spending bill introduced a tax on wind and solar projects that use components made in China and accelerated the phase-out of tax credits compared to earlier versions of the legislation.

The Details: Shares of major companies dropped, with NextEra Energy (NYSE:NEE)—the largest U.S. energy developer—down 4%, and solar firms like Array Technologies, Inc. (NASDAQ:ARRY) Enphase Energy, Inc. (NASDAQ:ENPH) and Nextracker, Inc. (NASDAQ:NXT) declining between 4% and 9%.

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