ENPH Stock Recent News

The alternative energy  sector is plummeting today, after the U.S. Senate's version of President Donald Trump's spending bill kept cuts to solar and wind tax credits.

Solar stocks are taking a material hit this morning after the US Senate approved cuts to renewable energy incentives the Trump administration proposed in its controversial spending bill last month.

Enphase Energy (NASDAQ: ENPH) shares tumbled 16% in extended trading on Monday, June 16, following the unveiling of proposed changes to President Trump's tax legislation by Senate Finance Committee Republicans. The proposed modifications would eliminate solar, wind, and energy tax credits by 2028, dealing another blow to the already struggling solar energy company.

The Senate version of the bill includes a provision that would fully phase out both solar and wind power tax incentives by 2028. It does, however, keep incentives for nuclear, hydropower and geothermal energy for longer.

Senate Republicans detailed changes to Trump's tax and spending bill that would end tax credits for some renewable energy by 2028.

Zacks.com users have recently been watching Enphase Energy (ENPH) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

In the latest trading session, Enphase Energy (ENPH) closed at $44.82, marking a -1.03% move from the previous day.

Jefferies sees winners and losers as the legislation reshapes the industry.

Enphase Energy (NASDAQ: ENPH), a top provider of residential solar energy solutions, has experienced a shocking stock drop of 70% over the past year, with the current trading price at $41. This notable decline brings the company's valuation to its lowest point in more than five years.

In the latest trading session, Enphase Energy (ENPH) closed at $43.16, marking a -1.35% move from the previous day.