Stock Market News | US Renewable Policy Shift | Clean Energy Impact | Waaree Energies | Solar Tax Credit Cut
Shares of Waaree Energies Ltd dropped over 2 percent on June 18, reacting sharply to a new draft bill by a US Senate panel proposing an aggressive rollback of solar and wind energy tax credits by 2028. The stock’s decline mirrors steep losses in US-based clean energy companies following the legislative proposal, as investors weighed its far-reaching implications on margins, expansion plans, and foreign solar manufacturing, including those with operations in the United States.
The US Senate draft bill—backed by Republican lawmakers—has triggered a second consecutive day of selling in renewable energy counters, with Waaree Energies sliding more than 5.5 percent in five days and nearly 8 percent over the past month. The stock is currently trading at levels 27 percent lower than its 52-week high, despite being up 46 percent from its 52-week low.
Highlights
Waaree Energies down over 2%, tracking US solar peers’ collapse.
US Senate panel proposes tax credit phase-out for solar, wind by 2028.
Sunrun, Solaredge crash up to 40% amid investor panic.
Waaree’s US manufacturing exposure heightens policy impact.
Also Read : Maruti Suzuki Rises on Australia Rare-Earth Supply Buzz, EV Strategy in Focus
US Draft Bill to Slash Clean Energy Incentives by 2028 Jolts Solar Stocks Globally
The proposed legislation aims to reduce solar and wind tax credits to 60% by 2026, then eliminate them entirely by 2028—a major rollback from the current 2032 timeline under the Inflation Reduction Act (IRA). The Senate version still provides generous support for hydropower, nuclear, and geothermal projects—offering 100% credit till 2033, and then tapering to zero by 2036. The fallout was swift: First Solar plunged 18%, Solaredge fell 33%, and Sunrun lost 40% in a single session, as investors feared cascading effects on project viability and cost structures.
Highlights
Clean energy tax credits cut forward by 4 years from current law.
Bill more lenient than Trump’s plan but still highly disruptive.
IRA subsidies had previously underpinned global solar expansion.
Wall Street clean energy stocks witness largest single-day losses in years.
Waaree Energies Faces Policy Blowback as US Facility May See Cost Overruns
Waaree Energies, which made headlines earlier this year by becoming the first Indian solar firm to build a PV module plant in Brookshire, Texas, is now among global companies directly affected by the Senate’s move. The plant, which had only recently started commercial operations, was strategically positioned to capitalize on IRA-linked incentives. However, the accelerated rollback of tax benefits could erode cost competitiveness, raise capital expenditure risks, and pressure margins over the next fiscal cycles.
Waaree has been steadily expanding its overseas footprint and was among the key Indian beneficiaries of the US clean energy push. The company’s presence in the US had been viewed as a strategic hedge against domestic policy volatility, making the latest Senate draft a sharp reversal in investor perception.
Highlights
Waaree’s Brookshire, Texas facility now vulnerable to policy change.
Earnings from US operations may take a margin hit post-2026.
Plant’s competitiveness assumed continuation of IRA subsidies.
New tax regime could raise per-watt module costs significantly.
Trump-Led Republican Energy Agenda Pressures Renewables; Nuclear, Hydro Favored
While the current Senate proposal softens some elements of Donald Trump’s earlier tax agenda, it still substantially reverses Biden’s green energy framework. Trump’s plan had proposed an immediate revocation of tax credits unless solar or wind projects began construction within 60 days of the bill’s passage and were operational by end-2028. The Republican proposal now grants limited phase-out timelines, but shifts future credit support toward nuclear, hydro, and geothermal energy, potentially reshaping the US energy mix in favor of non-solar renewables.
Highlights
Nuclear, hydro get preferential treatment till 2033 under Senate plan.
Trump plan scrapped incentives for projects not immediately under construction.
Renewable energy sector sees shift in political support trajectory.
Clean tech lobbying intensifies to delay or revise credit phase-out.
Waaree Stock Performance Remains Volatile Amid External Headwinds
Despite the downturn, Waaree Energies stock remains 16% higher over the past one year, supported by India’s robust solar pipeline and global demand for photovoltaic modules. However, the US policy uncertainty adds a new layer of risk, especially as Waaree ramps up international orders and expansions. In early trading on the NSE, over 7.5 lakh shares changed hands in the first hour, signaling heightened investor anxiety. Analysts caution that unless the US policy draft is amended or delayed, solar stocks may continue underperforming in the near term.
Highlights
Stock still 46% above 52-week low despite recent correction.
Short-term volatility expected to persist amid US policy risk.
Investors eye policy cues from Democrats and White House.
Further drop may trigger support buying if India demand holds.
Know more about us-
NiftyTrader
GiftNifty
BSE Option Chain
NSE Option Chain
IPO
Nifty50
FinNifty
BankNifty
BSESensex
