Clean energy stocks, including SolarEdge Technologies, Inc., rose after a tax on solar and wind projects was removed from the Senate version of the 'One Big Beautiful Bill Act.' This tax, which applied to projects using foreign components above a certain threshold, would have added up to $7 billion to the solar and wind industry's tax burden.
The removal of this punitive measure offers significant relief to the sector, which had feared substantial headwinds under the proposed legislation. SolarEdge gained approximately 7% following this development.
While the Senate bill still phases out clean electricity investment and production tax credits, the timeline is less strict than previous versions. Projects that start construction within 12 months of the bill becoming law can still qualify for full tax credits, providing more flexibility for developers.
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