Why Enphase Energy Stock Is Crashing Today
Hopes for legislative help were dashed by the latest version of President Trump's "One Big, Beautiful Bill" now in the U.S. Senate's hands.
Shares of solar power technology company Enphase Energy (NASDAQ: ENPH) are down 25.6% as of 11:30 a.m. ET on Tuesday, in response to proposed legislation that could soon end the industry's much-needed tax incentives. Although not yet enacted into law, it's increasingly clear that regulatory support for the nation's nascent solar power business is waning... a lot.
Much like their counterparts in the U.S. House of Representatives, the current collective slate of U.S. senators isn't interested in subsidizing the domestic proliferation of renewable energy for much longer.
That's the takeaway from the Senate's proposed update to President Trump's "One Big, Beautiful Bill" passed by the House late last month, anyway. While amendments recommended by a Senate panel are more supportive of nuclear, hydro, and geothermal power than the House's version of the act, the bill's suggested revisions still call for cutting tax incentives on solar and wind power systems by 60% as soon as 2026, and ending them altogether by 2028.
