The "Big and Beautiful Act" cancels consumption tax on wind and solar energy projects, U.S. solar stocks surge in response

The U.S. Senate passed Trump's tax and spending bill, eliminating the consumption tax on wind and solar projects, leading to a surge in U.S. solar stocks. Shoals Technologies rose nearly 24%, and Array Technologies increased by nearly 13%. Although some manufacturers support this tax policy, renewable energy developers are concerned about rising costs. The bill stipulates a gradual phase-out of tax credits starting in 2026, with a complete elimination by 2028. The president of the Solar Energy Industries Association stated that the bill could lead to higher electricity prices and unemployment. The bill passed in the Senate by a vote of 51 to 50, and the House still needs to overcome resistance