Solar Stocks Surge on Senate Plans for Rooftop Tax Credit Relief

Solar stocks surged following comments from Senator Kevin Cramer indicating that Senate Republicans are considering amendments to President Donald Trump’s spending bill that would ease the abrupt phase-out of rooftop solar tax credits. Key solar companies such as Sunrun, Enphase Energy, SolarEdge Technologies, and First Solar saw significant stock price gains amid hopes for more generous clean energy tax credits than those proposed in the House bill. The Senate amendments aim to extend the residential 30% tax credit and delay its phase-out, potentially providing relief to the struggling domestic solar industry facing challenges like high interest rates and foreign competition. Despite optimism, analysts remain cautious as the Senate bill stops short of full relief and the final legislative language is still pending. Meanwhile, ACME Solar Holdings Limited in India announced a 25-year Power Purchase Agreement for a 300 MW solar project, bolstering its portfolio as one of India’s leading renewable energy producers. Overall, the potential tax credit changes in the U.S. combined with expanding solar projects abroad signal continued investor interest and development in the solar energy sector.