The U.S. Senate has preserved some tax credits for renewable energy in the Trump bill

The shares of U.S. renewable-energy firms showed mixed results in the early trading on Monday after the U.S. Senate passed President Donald Trump's tax and spending bill.

The final version of the bill preserved tax credits for solar leases -- an arrangement in which a third party owns and installs solar panels on the property of a customer for a fee for the use of the system and electricity it produces.

After weeks of uncertainty, the provision has lifted several solar names. First Solar shares rose 7.1% to $163.00, while Sunrun and Fluence Energy both gained 3.1%.

As part of Trump's budget bill, a Senate committee proposed to phase out the solar and wind tax credit by 2028. This caused solar stocks to plummet.

Bloom Energy shares jumped more than 10% after the proposal was reintroduced, allowing fuel cells to qualify for tax credits. Plug Power shares also grew by 16.5% as the measure extended the construction deadlines in order to receive credits.

Not all renewable stocks have benefited. Enphase, a solar battery company, saw its shares fall 2.3% to $39.95. NextEra Energy's renewable assets portfolio, owned by the utility, fell 5.8% to $65.80.

RBC Capital Markets analysts wrote in a report that the Senate's passage of the One Big Beautiful Bill has mixed effects on solar-related clean energy stocks.

Analysts warned that market volatility may continue to be subdued.

I think the market will react mildly today. Many of these stocks were already under pressure when the House and Senate versions of the bill first came out in the last six weeks. Pavel Molchanov, Raymond James analyst. Reporting by Tanay in Bengaluru, Editing by Tasimzahid

(source: Reuters)