Waaree, Premier Energies Shares Slide up to 11% After US Clean Energy Selloff
Shares of Waaree Energies and Premier Energies declined sharply on Friday, tracking a global selloff in solar and clean energy stocks after the US House of Representatives passed a tax bill backed by President Donald Trump.
Waaree Energies fell as much as 11% to an intraday low of ₹2,666 on the BSE, while Premier Energies slipped over 6% to ₹1,017.5.
The sharp decline mirrored losses in US-based clean energy firms during Thursday’s session. Sunrun Inc, one of the largest rooftop solar companies in the US, and NextEra Energy, a key wind and solar project developer, saw their stocks plunge between 7% and 37% following the bill’s passage.
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The proposed legislation seeks to roll back several provisions of President Biden’s Inflation Reduction Act, including clean energy subsidies, pollution reduction grants, and federal tax credits for electric vehicles and rooftop solar systems. Notably, the bill plans to eliminate the 30% federal tax credit available to US taxpayers installing rooftop solar panels.
The bill narrowly passed in the US House of Representatives with a 215–214 vote, and will now move to the Senate for further deliberation.
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The development has raised concerns among Indian solar manufacturers and exporters, who rely significantly on international markets. According to the company’s Q1 FY26 data, Waaree Energies held an order book of nearly ₹47,000 crore, with 57% of that tied to exports.
Market experts believe the US policy shift could act as a sentiment dampener for Indian solar exporters, potentially impacting near-term revenue visibility.
Disclaimer: This post is for general informational purposes only. It does not constitute financial advice. Please consult a qualified professional before making financial decisions.
