PVTIME – In a 51–50 vote, with Vice President Mike Pence casting the decisive ballot, the US Senate passed the Trump administration’s One Big Beautiful Bill Act (OBBBA). The revised $1 trillion legislation scraps proposed excise taxes on wind and solar projects, but enforces a hard deadline to end all clean energy tax credits by late 2027. Controversial measures, including the termination of EV subsidies and the extension of nuclear power funding, remain in place, prompting a mixed response from various industries.
Earlier drafts of the bill had included a clause threatening 10–20% surcharges on renewable projects using imported components, which caused sharp sell-offs in June, First Solar and Sunrun lost 15% and 12% respectively following leaks. However, 48 hours before the vote, Republican senators abruptly removed the excise tax provision, preserving only the 2027 deadline for new projects to claim incentives.
On the day of the vote, solar stocks rebounded sharply: Shoals Technologies surged by 24%, Sunrun rose by 11%, and Vestas gained by 8%. Analysts note that this reprieve provides developers with a two-year buffer, averting an immediate cost crisis. However, the expiry of the credit in 2027 remains a long-term challenge. Industry bodies warn that the bill weakens the competitiveness of US clean energy, while the White House hails it as a ‘milestone for energy independence’. The legislation strikes a balance between short-term relief and a definitive end to green subsidies, offering the sector both stability and uncertainty.
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