Shares of clean energy companies surged following the Senate’s narrow passage of President Donald Trump’s One Big Beautiful Bill Act on Tuesday, which included the removal of a controversial tax on solar and wind projects. NextEra Energy, the U.S.’s largest renewables developer. A day later, the company’s stock was up almost 3% as shareholders welcomed news of the win.
NextEra Energy’s CEO Abigail Ross Hopper was both relieved and worried about the legislation. She recognized that eliminating the tax was a positive move. She cautioned that the bill continued to present enormous dangers to the clean energy industry and the rest of the American economy. Hopper stated, “This legislation undermines the very foundation of America’s manufacturing comeback and global energy leadership.”
Hopper’s focus was on the real-life effects that would happen if the bill ever passed. She warned that American families could face higher electric bills, factories might shut down, and jobs could be lost across various sectors, ultimately leading to a weaker electric grid.
Outside of NextEra Energy’s impressive gains, the entire clean energy sector saw significant positive movements. AES, one of the other big names in the industry, had its shares jump almost 2%. In the meantime, Array Technologies had its own impressive day by skyrocketing more than 11%. Nevertheless, it was a positive day for Nextracker, which rose by around 5%. By contrast, First Solar—which happens to be the largest solar panel manufacturer in the U.S.—fell a bit short of that at a negative 1%.
When the news broke, the clean energy industry was stunned. So they were rightfully indignant when they learned that a tax on wind and solar projects was part of an early draft of the Senate bill. This tax will bring in an estimated $7 billion to the clean energy economy. Most importantly, it shows how high the stakes are on the ground in the legislative process.
While the bill has seen good changes, the fears of foreign competition—particularly from other national champions, like China—never really went away. The clean energy sector is thriving, booming, and beyond dynamic. According to industry leaders such as Hopper, the key to fostering this innovation lies in having a clear, consistent, and supportive regulatory environment that will keep America’s competitive edge.