Reported 1 day ago
Renewable energy stocks faced a significant downturn this week as the U.S. House of Representatives passed a bill that threatens to eliminate crucial subsidies supporting the industry. The legislation, aimed at repealing tax credits for electric vehicles, solar, wind, and energy storage, could render many renewable projects economically unviable, causing severe distress for companies like Enphase Energy, Bloom Energy, AES, and NextEra Energy. If enacted, this bill could halt growth in the renewable sector, leading to bankruptcies and a drastic impact on energy investors.
Source: YAHOO