Clean energy stocks, including Nextracker, rose 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 applied to projects using components from foreign entities of concern, was widely understood to target China.
The punitive measure would have added up to $7 billion to the solar and wind industry's tax burden, according to the American Clean Power Association. Its removal is a significant relief for companies operating in the sector.
Despite this positive development, the Senate bill still includes provisions to phase out the clean electricity investment and production tax credits. However, the timeline for these phase-outs is less strict than in previous versions, allowing projects starting construction within 12 months to still qualify for full tax credits.
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