6 July 2025 | 10:10PM EDT Americas Clean Energy Brian Lee, CFA +1(917)343-3110 | brian.k.lee@gs.com Goldman Sachs & Co. LLC Carly Davenport +1(212)357-1914 | carly.davenport@gs.com Goldman Sachs & Co. LLC Nick Cash +1(212)357-6372 | nick.cash@gs.com Goldman Sachs & Co. LLC Tyler Bisset, CFA +1(212)357-5510 | tyler.bisset@gs.com Goldman Sachs & Co. LLC House passes tax bill maintaining Senate provisions for clean energy On July 3, the House voted to pass the Senate's amended budget bill, which was signed int ...

with all the details and maybe the timeline, Emily, of what's next. Hey guys. Well, yeah, as you said, Senate narrowly passed Trump's mega bill and that multi- trillion dollar tax package.It now of course heads to the House. Now, leaders are teeing up a potential vote tomorrow. That's when they want to get it done. That's when members are coming back.But before that happens, there's likely going to be a little bit of negotiation and a little bit of arm twisting going on because we're already seeing oppositi ...

Clean energy stocks fell on Monday as President Donald Trump's spending legislation now includes a tax on wind and solar projects using Chinese components and phases out credits faster than previous versions of the bill.Shares of NextEra Energy, the largest renewable developer in the U.S., fell 4%. Solar stocks Array Technologies, Enphase and Nextracker were down between 4% and 9%. The Senate is voting Monday on the legislation, which ends the two most important tax credits for solar and wind projects place ...

Core Insights - Enphase Energy has faced significant stock volatility due to proposed changes in tax legislation affecting the solar energy sector [2][3] - Recent reports indicate a potential policy shift that could extend and enhance clean energy tax credits, positively impacting solar companies like Enphase [3][5] - Despite the potential benefits from tax credit extensions, Enphase Energy must navigate broader structural challenges within the solar industry for sustainable growth [4][5] Tax Legislation Impact - Proposed changes by Senate Finance Committee Republicans aimed to eliminate solar, wind, and energy tax credits by 2028, creating challenges for the solar sector [2] - On June 24, Enphase stock surged over 10% following news that Republicans are reconsidering their stance on clean energy tax credits [3] - The proposed modifications could extend the expiration dates of these credits beyond 2028, which is a positive development for solar companies [3] Structural Challenges - Enphase Energy continues to face multiple structural challenges beyond tax policy, including the need for improvements in net metering policies and access to affordable financing [4] - The recovery of the company will likely depend on a combination of favorable conditions, including potential declines in interest rates [4] Market Outlook - If the proposed tax credit changes are finalized, solar stocks, including Enphase, may continue their recent rally [5] - Sustainable growth for Enphase will depend on addressing a broader array of operational and market challenges that have impacted the solar sector [5] - Monitoring policy developments and fundamental business metrics is crucial for evaluating solar energy investments in the current regulatory environment [5]

Solar stocks are tumbling after the Senate maintained the full removal of clean-energy tax credits in the budget bill, even as it reportedly extended the time frame for the phaseout beyond the Republicans’ proposals. https://t.co/zt0NzZtvwK ...

And with that, let's get to Emily Wilkins in Washington with the latest, Emily, on the Senate version of the bill, what's in it, and how folks are reacting. Hey, Sarah. Well, at this point, the reaction hasn't been all positive.I mean, the Senate version of this multi- trillion tax bill, it just dropped yesterday and it is already in trouble with both House and Senate Republicans raising concerns about some of the provisions. Some like Senator Josh Holly, he's concerned with some of the cuts to Medicaid tha ...

Core Viewpoint - The recent passage of a tax and spending bill by the Republican-controlled House has led to a significant decline in solar stocks, particularly affecting residential rooftop solar providers like Sunrun, which saw a 40% drop in share price [1][5]. Group 1: Impact on Solar Stocks - Solar stocks, including Sunrun, NextEra Energy, and AES Corp., experienced sharp declines, with Sunrun down 40%, NextEra down 9.1%, and AES down 5.2% [1]. - The bill phases out most clean-energy tax credits for utility projects that begin more than 60 days after passage or are placed into service after 2028, which is more restrictive than previously anticipated [2][3]. Group 2: Specific Effects on Rooftop Solar - The bill has rolled back tax credits for leased rooftop solar systems, which could devastate the residential solar industry, as most installations are leased [4][5]. - Analysts have described the bill's impact on the rooftop solar industry as "disastrous," with one stating it could mark "the end" of the U.S. rooftop solar industry as it currently exists [5]. Group 3: Supply Chain Concerns - Sunrun imports about 50% of its solar panels, and the new tariffs and restrictions on foreign components could exacerbate challenges for the company, particularly given its reliance on Chinese supply chains [6]. Group 4: Legislative Status - The bill has only passed the House and will now move to the Senate, where there are reservations about the current provisions, indicating potential for further negotiations [8]. - Investors are advised to monitor developments in the Senate, as there is hope for reintroduction of some credits in the reconciled version of the bill [9].

Double Black Diamond Solar near Waverly, south of Springfield, Illinois, is set to be the largest solar farm east of the Mississippi River on July 31, 2024.Solar stocks plunged premarket on Thursday after House Republicans passed a tax bill that terminates key clean energy credits.Residential solar installer Sunrun plummeted more than 35%. The legislation ends tax credits for installers like Sunrun that lease equipment to customers.The GOP bill is a "worse than feared" scenario for clean energy, as it takes ...

Sunrun (RUN) Q1 2025 Earnings Call May 07, 2025 04:30 PM ET Speaker0 Good afternoon, and welcome to Sunrun's First Quarter Earnings Conference Call. Please note that this call is being recorded and that one hour has been allocated for the call, including the Q and A session. I will now turn the call over to Patrick Jobin, Sunrun's Investor Relations Officer. Speaker1 Thank you, Alicia. Before we begin, please note that certain remarks we will make on this call constitute forward looking statements. Although ...