Enphase Energy (ENPH) Nosedives 21.38% W/W on Tax Credit Phase-Out

Enphase Energy, Inc. (NASDAQ:ENPH) is one of the Massive Sell-Offs: These 10 Stocks Shockingly Nosedived.

Enphase Energy, Inc. (NASDAQ:ENPH) fell by 21.38 percent week-on-week to end Friday’s trading at $35.85 versus the $45.6 on June 13, as investors sold off positions amid proposals to phase out solar and wind tax credits by 2028.

Enphase Energy, Inc. (NASDAQ:ENPH) declined alongside its peers, such as First Solar, Inc. (NASDAQ:FSLR), amid the proposed cuts, which form part of President Donald Trump’s One Big, Beautiful Bill Act.

The draft bill seeks to secure historic tax cuts, deficit reduction, and border security, among others. However, it would also result in millions of Americans stripped of existing benefits, including healthcare and solar tax credits, impacting investor sentiment in solar companies.

A solar panel array stretched across a large open field, its glimmering panels reflecting the sun.

Based on the draft bill being circulated by the Senate committee, tax incentives for solar and wind projects will be cut to 60 percent of their value in 2026, and totally end in 2028.

Under the current law, the phase-out will not begin until 2032.

While we acknowledge the potential of ENPH as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.