Trump Executive Order Cuts Solar, Wind Tax Credits, Stocks Fall

President Donald Trump has sharply criticized renewable energy sources such as wind and solar, calling them "stupid," "ugly," and a blight on the country during a White House cabinet meeting. He condemned solar fields for taking farmland and criticized wind energy for being expensive and reliant on subsidies, contrasting this with the substantial fossil fuel subsidies granted by the U.S. government. Following Trump's executive order to fast-track the elimination of clean-energy tax credits within 45 days after the new spending bill's implementation, solar stocks plunged significantly, with companies like Sunrun, First Solar, and SolarEdge experiencing notable share declines. This order aims to close loopholes that would allow continued use of tax credits for these technologies, as Trump argues that renewable projects displace affordable and reliable domestic energy and harm the nation's natural landscape. Analysts have reacted by downgrading stock ratings and lowering price targets, citing the negative impact on residential solar demand amid elevated interest rates. The recent tax-and-spending bill and Trump's actions effectively roll back green tax incentives introduced under the previous administration, contributing to the downturn in renewable energy equities.