Shares of renewable energy companies are rising after a tax on solar and wind was removed from the Senate version of the One Big Beautiful Bill Act. The Senate narrowly passed the legislation Tuesday and will now be considered by the House of Representatives.

Clean energy stocks fell Monday as President Donald Trump’s spending legislation now includes a tax on wind and solar projects using Chinese components and abruptly phases out key credits

A Republican plan heading to a vote in the Senate would quickly end incentives for clean energy and impose new taxes on some wind and solar projects, while boosting production of coal used to make ste