Particle.news

Download on the App Store

Trump Tax Bill Passage Hits Indian Solar Stocks, Threatens Clean Energy Incentives

The US House narrowly approved legislation to phase out key clean energy tax credits, causing significant declines in Waaree Energies and Premier Energies shares.

Image
Waaree Energies | Image: Waaree Energies
Waaree Energies, Premier Energies shares slip  up to 8% in early deals, here's why
Image

Overview

  • The US House of Representatives passed President Trump's tax proposal by a narrow 215-214 vote, advancing the bill to the Senate.
  • The legislation seeks to phase out critical clean energy tax incentives, including the 30% federal solar tax credit and related grants.
  • Shares of Waaree Energies fell 7.89% and Premier Energies dropped 3.49%, reflecting market fears over reduced US solar subsidies.
  • Waaree Energies, with 57% of its order book tied to the US, faces heightened risks, while Premier Energies' planned US facility may be jeopardized by policy uncertainty.
  • Industry experts warn of potential factory closures, job losses, and higher electricity costs in the US if the bill becomes law.