Big Beautiful Bill ‘better than feared’ for solar, says JPMorgan

JPMorgan analyst Mark Strouse says that while amount of tax incentives was reduced compared to the Inflation Reduction Act, the Big Beautiful Bill act “is materially better than feared” for clean energy. With policy certainty restored, investor sentiment should improve and generalist investors will revisit the space again, the analyst tells investors in a research note. JPMorgan believes domestic manufacturing and utility-scale renewables fared better than residential solar in the final version of the bill, but it points out residential solar “was certainly better than feared.” Fuel cells are again eligible for the clean electricity investment credit, which is a positive for Bloom Energy (BE) and FuelCell (FCEL), according to JPMorgan. It sees positives in the bill for Sunrun (RUN), SolarEdge (SEDG), Enphase Energy (ENPH), First Solar (FSLR), Nextracker (NXT), and Array Technologies (ARRY).