Solar stocks plunged on Tuesday after the Senate released its version of what President Donald Trump has called the “big, beautiful bill.” While some anti-growth carveouts remain, one of its strongest reforms is how it begins to unwind former President Joe Biden’s green energy subsidies. This shift marks a long-overdue correction, ending an era where Washington picks winners and losers in the energy economy.
The market’s reaction was revealing. Overinflated by years of preferential treatment, many renewable companies are now adjusting to reality — one where their products compete on merit, not mandates. That’s a good thing.
Under Biden, energy policy was driven by top-down planning and heavy-handed regulation. The results? Higher prices, constrained supply, and a fragile grid. But under Trump, we’re seeing a reorientation:
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