U.S. solar companies faced pressure in premarket trading Thursday after the House of Representatives passed a revised version of a tax and spending package that would scale back support for renewable energy sooner than expected.

The updated bill, pushed through by House Republicans, accelerates the phaseout of tax credits designed to support solar and wind energy projects. While the original proposal included a gradual rollback of incentives into the next decade, the latest version fast-tracks their expiration.

This shift came as a result of negotiations with fiscally conservative GOP lawmakers, who demanded a faster withdrawal of subsidies in exchange for backing the broader budget plan. Supporters of the revision argued that the solar and wind sectors have matured and no longer require the same level of government assistance, suggesting the funds could be better used to support other clean technologies.

A key provision in the new legislation requires renewable projects to begin construction within 60 days of the bill’s enactment in order to qualify for the existing tax credits – a timeline that industry groups say could severely restrict development.

The tax plan, branded by former President Donald Trump as part of his “big, beautiful” budget overhaul, passed the House narrowly on Thursday morning and now heads to the Republican-controlled Senate for further debate and a final vote.

The market responded swiftly: shares in major solar firms declined ahead of the opening bell. Sunrun (NASDAQ:RUN), Canadian Solar (NASDAQ:CSIQ), Enphase Energy (NASDAQ:ENPH), Array Technologies (NASDAQ:ARRY), First Solar (NASDAQ:FSLR), and SolarEdge (NASDAQ:SEDG) all posted losses in premarket trading, as investors digested the potential impact on future project pipelines and profitability.

The renewed uncertainty around federal support could slow momentum in a sector that has seen robust growth in recent years, driven by both policy incentives and rising demand for clean energy.

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