Clean energy stocks, including First Solar, Inc., dropped on July 8, 2025, after President Donald Trump's administration announced it would enforce the halt to clean-electricity tax credits faster than expected through a new executive order. This action further lowers government support for renewable power.
The executive order creates significant uncertainty and headwinds for the clean energy sector by accelerating the limitation of access to tax incentives for renewable energy projects. This directly impacts the financial models and viability of future solar and wind developments.
Additionally, President Trump announced new tariffs ranging from 25% to 40% on 14 countries, with an effective date moved to August 1. While First Solar benefits from tariffs on certain foreign imports, the broader imposition of new tariffs and the accelerated reduction of tax credits contribute to a challenging and unpredictable policy environment for the company.
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