Enphase Energy Plummets to 384th in Trading Volume as Solar Stocks Sell Off Amid Tax Credit Concerns

On June 23, 2025, Enphase Energy (ENPH) experienced a significant decline, with its trading volume reaching $267 million, marking a 40.85% decrease from the previous day. This drop placed Enphase at the 384th position in terms of trading volume for the day. The stock price of Enphase Energy fell by 3.60%, marking the second consecutive day of decline, with a total decrease of 5.00% over the past two days.

Enphase Energy's stock price plummeted due to investor concerns over proposed legislation that aims to phase out solar and wind tax credits by 2028. This draft bill, part of President Donald Trump’s One Big, Beautiful Bill Act, seeks to implement historic tax cuts, deficit reduction, and enhanced border security. However, it also proposes significant cuts to existing benefits, including healthcare and solar tax credits, which has negatively impacted investor sentiment in the solar industry.

Under the proposed legislation, tax incentives for solar and wind projects would be reduced to 60% of their current value by 2026 and completely eliminated by 2028. This is a significant shift from the current law, which does not begin phasing out these incentives until 2032. The proposed changes have led to a sell-off in solar stocks, with Enphase Energy being one of the most affected companies.