The future of California's solar industry faces uncertainty as Trump's budget reconciliation bill threatens existing tax breaks for solar and wind energy. These incentives have been vital in promoting renewable projects and aiding homeowners. Following the Senate's draft unveiling, stocks of solar companies, particularly Sunrun and Enphase, dropped dramatically—the former losing 40% of its value. The situation is precarious, with Congress yet to finalize the bill, leaving the broader clean energy landscape in jeopardy amid rising interest rates.
The tax breaks encourage companies to build renewable projects, help homeowners pay for solar panels and push more of the economy toward clean, often cheap energy.
Since Monday afternoon, Sunrun's stock has plummeted about 40% in value, cutting more than $860 million from its market cap in just a single day.
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