Solar Stocks Down on New Tax Bill

[Seleskya + 50]

Lobbyists might fear what the new tax bill means for investment in renewable energy projects, but the market is already speaking. First Solar and SunPower are down on news of the new tax bill. These are pretty much the barometers of solar sentiment because they are the biggest US solar manufacturers. First Solar was down almost 7% last I looked. SunPower is down over 7.6%. 

[Stephen + 67]

The proposed tax bill threatens a critical but esoteric source of wind and solar finance: tax equity. In tax-equity deals, renewable-energy developers sell portions of their projects’ tax credits to corporations -- often banks and some insurance companies -- that can apply the credits to their own tax bills.  

[TraderTate + 186]

Guess that was a blip in the market. Look at solar stocks now ...