In latest developments from the US, the Senate Republicans came out with their draft of US President Donald Trump’s One Big Beautiful Bill, cutting incentives for solar and wind segments. As per the new draft legislation, incentives for wind and large-scale solar projects would end by 2028. Credits for home solar installations and energy-efficiency improvements would end even earlier.
US Energy Secretary Chris Wright recently called those intermittent power sources “a parasite on the grid,” saying in a post on X that they “rely on external conditions to work.”
Experts believe that both the House and Senate proposals would devastate the US Solar business, which is already grappling with rising tariffs and steep interest rates.
The Senate intends to pass the bill and send it back to the House for final approval before their self-imposed deadline of July 4.
US House of Representatives had cleared the legislation back on May 22, which had resulted in a sharp fall in shares of both Waaree and Premier Energies.
At the start of the first quarter of the current financial year, Waaree Energies had an order book of ₹47,000 crore, of which, exports comprised of 57%.
Brokerage firm Jefferies wrote in its note that the US export opportunity for Waaree is narrowing faster than anticipated and that it sees a risk to more than half of the company’s overall order book that comes from the US.
Three out of the four analysts that have coverage on Waaree Energies have a “sell” rating on the stock, while the other one has a “buy.”
Shares of Waaree Energies are trading 2.7% lower on Wednesday at ₹2,712. The stock has declined 8% in the last one month.
