Mizuho analyst Maheep Mandloi says the House cut renewable incentives for solar, wind and batteries in the tech-neutral tax credits to now end completely in 2028, and pulled forward the anti-China policy timeline. The “key winner” was First Solar (FSLR) in this version, but the anti-China policy is negative for demand and the whole industry, the analyst tells investors in a research note. Mizuho’s checks at the CleanPower conference expect positive changes for the industry in the Senate version of the bill. The faster Inflation Reduction Act cut-off is in line with news earlier this week but the stricter timeline and language on foreign entity of concern to get the tax credits 2026 to 2028 is the “bigger industry challenge,” according to the firm. Publicly traded companies in the clean energy space include Array Technologies (ARRY), Canadian Solar (CSIQ), Emeren (SOL), Enphase Energy (ENPH), FTC Solar (FTCI), First Solar (FSLR), JinkoSolar (JKS), Maxeon Solar (MAXN), Shoals Technologies (SHLS), SolarEdge (SEDG), SunPower (SPWR) and Sunrun (RUN).
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