Why These Energy Stocks Are Losing This Week

2. Enphase Energy, Inc. (NASDAQ:ENPH

Share Price Decline Between May 20 – May. 27: 17.99%

Enphase Energy, Inc. (NASDAQ:ENPH) is a global energy technology company and the world’s leading supplier of micro-inverter-based solar and battery systems. The company has shipped approximately 80 million microinverters, and approximately 4.7 million Enphase-based systems have been deployed in more than 160 countries around the world.

Enphase Energy, Inc. (NASDAQ:ENPH) plunged after investors reacted negatively to the House of Representatives narrowly passing President Trump’s ‘one big beautiful bill’, which ends the investment and electricity production credits for clean energy facilities. Those credits have played a key role in the rapid expansion of utility-scale solar projects in the country. The rooftop solar industry faces a fatal blow as the bill would remove the 30% federal tax credit for taxpayers who install solar rooftop systems, potentially causing a drop in sales of ENPH’s inverters.

Enphase Energy, Inc. (NASDAQ:ENPH) also faced downward pressure after the stock was downgraded by BMO Capital from Market Perform to Underperform, with its price target also reduced from $46 to $39.