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Top US solar firm sees stock plunge after big guidance drop from Trump tariffs

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Renewable energy faces a potential double whammy of tariffs and tax credit reductions.
The article from Fortune discusses the significant impact of President Trump's decision to impose tariffs on imported solar panels, leading to a sharp decline in solar stocks. On the day of the announcement, stocks of major solar companies like SunPower, First Solar, and Sunrun fell dramatically, with SunPower dropping by 18%. The tariffs, set at 30% for the first year and decreasing annually to 15% in the fourth year, were intended to protect domestic solar manufacturers but raised concerns about increased costs for solar installations and potential job losses in the broader solar industry. Critics argue that these tariffs could hinder the growth of solar energy in the U.S., as the majority of solar panels are imported, primarily from China and other Asian countries.

Read the Full Fortune Article at:
[ https://fortune.com/article/solar-stock-plunge-trump-tariffs/ ]