Magnum Audit Flags Governance Issues at Ben & Jerry’s Foundation Ahead of Spin-Off 
U.S. May Withhold $30.4 Million From Minnesota Over Improper Commercial Driver Licenses 
Australia Moves Forward With Teen Social Media Ban as Platforms Begin Lockouts 
China’s Expanding Maritime Military Presence Alarms Taiwan and Japan 
Taiwan Opposition Criticizes Plan to Block Chinese App Rednote Over Security Concerns 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call 
U.S. Expected to Expand Travel Ban to More Than 30 Countries 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
FDA Memo Raises Questions About Possible COVID-19 Vaccine Links to Rare Child Deaths 
Trump Administration Plans Major Rollback of Biden-Era Fuel Economy Standards 
YouTube Agrees to Follow Australia’s New Under-16 Social Media Ban 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
Drones Spotted Near Zelenskiy’s Flight Path in Ireland Trigger Security Alert 
U.S. Repatriation Flight Carrying 266 Venezuelan Migrants Lands in Caracas 
Anthropic Reportedly Taps Wilson Sonsini as It Prepares for a Potential 2026 IPO 
OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities 
Shares of major U.S. solar energy companies plunged in after-hours trading on Monday after Senate Republicans proposed changes to President Donald Trump’s tax and spending bill that would eliminate key clean energy incentives. The proposed legislation, dubbed the "One Big Beautiful Bill Act," seeks to phase out tax credits for solar and wind energy by 2028, accelerating the timeline set by the Biden-era Inflation Reduction Act.
Enphase Energy (NASDAQ:ENPH), a leading solar inverter maker, saw its shares fall 15% post-market. Solar panel providers Sunrun (NASDAQ:RUN) and SolarEdge Technologies (NASDAQ:SEDG) dropped more than 20%, while First Solar (NASDAQ:FSLR) declined 9%.
In contrast, the bill extends tax incentives for hydroelectric, nuclear, and geothermal energy through 2036, aligning with priorities favored by the Trump administration. The proposed changes will be debated further as Senate Republicans aim to pass the legislation before the July 4 holiday.
The news adds to the challenges facing the U.S. solar sector, which has been grappling with declining residential demand due to elevated interest rates and net metering reforms in key markets like California. These changes have reduced the financial benefits for homeowners selling surplus solar power back to the grid, further dampening consumer enthusiasm.
Investors reacted sharply to the policy shift, concerned that phasing out solar tax credits could weaken long-term growth prospects for renewable energy companies. As the Senate moves toward finalizing the bill, clean energy stakeholders are closely watching for any amendments that might soften the blow to the solar industry.
The selloff underscores how vulnerable the sector remains to shifts in federal policy, particularly as the energy transition continues to depend heavily on supportive legislation.
