The latest Senate bill with amendments is positive for renewables, as it drops the solar and wind excise tax and gives 12 months for solar and wind projects to start construction, Mizuho tells investors in a research note. The solar and wind excise tax omission is positive for the industry, though a slight negative for domestic manufacturers like First Solar (FSLR), while residential solar leases still qualifying for 48E is positive for Sunrun (RUN), and natural gas fuel cell tax credits in the bill are positive for Bloom Energy (BE). Other publicly traded companies in the space include Array Technologies (ARRY), Canadian Solar (CSIQ), Enphase Energy (ENPH), Maxeon Solar (MAXN), Shoals Technologies (SHLS), and SolarEdge (SEDG).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ARRY:
- Wells says excise tax removal positive for Solar, negative for First Solar
- Republicans remove excise tax on wind, solar projects from Senate bill, CNN says
- Array Technologies Closes $345M Convertible Notes Offering
- Array Technologies: Hold Rating Maintained Amid Acquisition and Debt Reduction Efforts
- Array Technologies price target raised to $8 from $7 at BofA