Solar stocks are selling off as clean energy investors worry Donald Trump is on a path to win the U.S. presidential election.
Traders are worried that Trump could repeal the Inflation Reduction Act if Republicans manage to secure unified control of government.Philadelphia news 24/7: Watch NBC10 free wherever you are Solar stocks are falling on fears that a possible Trump victory would spell trouble for the Inflation Reduction Act, which has fueled a clean energy boom in the U.S. through tax credits to expand solar energy.Trump's campaign platform calls for the termination of the IRA, which he refers to as the"Socialist Green New Deal." The IRA is one of President Joe Biden's signature achievements. The law passed on party-line vote in 2022 without any Republican support.
Trump is leading in the electoral college and is projected to win the key swing state of North Carolina, according to NBC News. The future of the IRA, however, will depend not only on whether Trump wins the White House, but whether Republicans also secure control of Congress. Kamala Harris' campaign chair Jen O'Malley Dillon told staff in an email Tuesday that the clearest path to victory for the vice president lies in the so-called Blue Wall states of Pennsylvania, Michigan and Wisconsin.Rittenhouse Square