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U.S. Solar Stocks Decline After Biden’s Climate Plan Fizzles

  • Manchin stunned White House, party by rejecting bill on Sunday
  • Solar company shares tumbled in Asia Monday after announcement
     
Photographer: David Paul Morris/Bloomberg

U.S. solar shares plunged after President Joe Biden’s $1.75 trillion signature economic and clean energy plan suffered a crucial blow. 

Sunrun Inc., the biggest U.S. residential solar installer, fell as much as 12% Monday before paring some of the losses. First Solar Inc., the country’s top panel producer, dropped as much as 8.3% and SunPower Corp. slipped as much as 9.8%. The moves mirror declines for solar suppliers traded in China on Monday.