On May 22 local time, U.S. solar stocks closed lower, with leading firms and equipment suppliers sustaining significant losses. Sunrun Inc., the largest residential solar company in the U.S., plummeted 37.05%, while equipment providers SolarEdge Technologies shed 24.67% and Enphase Energy dropped 19.63%. Additionally, Sunrun’s shares fell 9.3% intra-day, Maxeon Solar Technologies slid 9.42%, NextEra Energy declined 6.43%, and First Solar dipped 3%.
The same day, the Republican-led U.S. House of Representatives narrowly passed the “Tax Cuts and Jobs Act 2.0″—dubbed the “One Big, Beautiful Bill Act” by President Trump—by a 215-214 vote. The legislation proposes sweeping tax cuts, social spending reductions, and a projected surge in federal debt. Of particular concern to the renewable energy sector, the bill includes provisions to phase out clean energy tax credits earlier than planned, potentially stifling further growth in the solar industry.
