Clean energy stocks, including Array Technologies, rose significantly after a proposed tax on solar and wind projects was removed from the Senate version of the 'One Big Beautiful Bill Act'. This tax, which would have applied to projects using components from foreign entities of concern, was widely understood to target China and would have added up to $7 billion to the industry's tax burden.
The removal of this measure, confirmed by the American Clean Power Association (ACP) and Solar Energy Industries Association (SEIA), alleviated a major concern for the renewable energy sector. While the Senate bill still phases out clean electricity investment and production tax credits, the timeline is less strict than previous versions.
Projects that commence construction within 12 months of the bill becoming law can still qualify for full tax credits, and those starting after 12 months must enter service by the end of 2027 to qualify. Array Technologies' shares jumped more than 12% following this positive legislative development, reflecting renewed investor confidence in the sector's regulatory environment.
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