Enphase Energy (ENPH) Surges 12.83% as Senators Rethink Clean Energy Credit Cuts

Enphase Energy, Inc. (NASDAQ:ENPH) is one of the 10 Stocks Delivering Eye-Popping Gains.

Enphase Energy, Inc. (NASDAQ:ENPH) jumped by 12.83 percent on Thursday to close at $43 apiece following news that Senate lawmakers were rethinking plans to end clean energy tax credits, including pushing their expiration dates to a later date.

This followed Senator Kevin Cramer’s comments earlier this week that the Senate energy committee was looking at discussing changes to rooftop solar credits in a bid to improve rules for future clean energy tax incentives.

The provisions form part of the One Big, Beautiful Bill Act, which seeks to secure historic tax cuts, deficit reduction, and border security, among others.

Both the House and Senate versions of the bill sought to eliminate 30 percent tax credits for homeowners with rooftop panels and a separate subsidy for companies that lease residential systems.

Since then, share prices of solar companies, including Enphase Energy, Inc. (NASDAQ:ENPH), have been trading heavily in the red.

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