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Pure energy reserves rose on Tuesday after the solar and wind projects have been removed from the Senate “One Big Bill”.
Shares Nextera EnergyThe largest renewable energy developer in the United States increased by about 5% after the Senate narrowly passed President Donald Trump’s bill on Tuesday. Nuclear power plantThe leading provider of renewable sources increased about 2%. Megabil will now go to the House of Representatives, where legislators will consider the changes of the Senate.
Pure energy industry was surprised and indignant when last weekend Wind tax and solar projects He was inserted into the Senate Law. A tax that is applied to projects that use components from foreign entities that cause concern above a particular threshold. The concern of foreign conditions is widely understood that it is mostly referring to China.
In the end, the tax was impressed with the Senate legislation, according to the US Pure Energy Association (ACP) and the CNBC Solar Energy Industries Association. The measure was punitive and would make up to $ 7 billion to the tax burden on the solar and wind industry, said John Hansley, senior vice -president of the market analysis.
The Senate Bill is still excluded by pure investment in electricity and tax benefits for wind and solar energy, although the term is not as strict as the previous versions of the legislation. These loans have played a decisive role in expanding renewable energy in the US
Projects starting construction within 12 months after the bill becomes a law, can still claim full tax credits, ACP reports. Projects starting construction after 12 months must enter the service by the end of 2027 to get the right to loans, ACP reports.
In the last three months Invesco Solar ETF (Tan).
Landmark Sunny ETF Invesco (tan) scored 2.9%and Ishares Global Clean Energy ETF (iCln) After the adoption of the legislation, it increased by 0.8%.
Shares First sunnyThe largest manufacturer of solar panels in the US has slipped more than 1%. Manufacturers of solar trackers Array technology and Nextracker Jumping more than 12% and 5% respectively.
A residential sunny installer Sun More than 10%and manufacturers inverters Stretch and Enfaz I scored about 7% and 3% respectively.
But Seia warned that the improvement of the Senate bill is limited, and the legislation as a whole is still harmful to renewable energy sources. ACP described the bill as a “step back for US energy policy”.
“This legislation undermines the very foundation for returning in America and global energy leadership,” Ebigayil grew Hopper, CEO of SEI, said in a statement. “If this bill becomes a law, families will face higher electric accounts, closed factories, Americans will lose their jobs, and our electric network will become weaker.”
