Скачать или смотреть Solar stocks rise as congressmen propose suspension of 45X manufacturing tax credit

Enphase Energy closed 8.5% higher on Monday, leading gains in the solar sector, after U.S. House members John Moolenaar and Jared Golden introduced a resolution to suspend the 45X advanced manufacturing production tax credit.

The resolution seeks to rewrite the legislation to prevent Chinese companies from benefiting from these tax breaks.

While the 45X tax credits, part of the Inflation Reduction Act, have boosted U.S. renewable energy manufacturing, Moolenaar and Golden argue that foreign companies, particularly Chinese, can still benefit by building facilities in the U.S.

Clean Energy Associates’ senior policy analyst Christian Roselund suggested that a crackdown on foreign companies benefiting from these incentives may be coming soon.