Waaree Energies, Premier slide up to 11%. Here's why

Shares of Premier Energies and Waaree Energies fell sharply on Friday, mirroring a steep selloff in US solar and clean energy stocks after the US House of Representatives passed a controversial tax bill backed by President Donald Trump.

Waaree Energies declined 11% to an intraday low of Rs 2,666 on the BSE, while Premier Energies slipped over 6% to Rs 1,017.5.

The decline follows a rout in US clean energy counters during Thursday’s session. Sunrun, the country’s largest rooftop solar company, and NextEra Energy, a leading wind and solar project developer, saw their stocks fall between 7% and 37% in a single day.

The selloff was triggered by a new tax bill that proposes rolling back key provisions of the Biden Administration’s Inflation Reduction Act. The legislation aims to eliminate several clean energy subsidies, including grants for reducing air pollution and greenhouse gas emissions, as well as incentives for purchasing electric heavy-duty vehicles.

The 30% federal tax credit for taxpayers, who install solar rooftop systems, will also be abolished under the new bill.

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This bill was narrowly passed in the US House of Representatives by a 215-214 margin and will now head to the senate for further passage.

The development is seen as a sentiment dampener for Indian solar exporters like Waaree and Premier Energies, which derive a substantial portion of their revenues from international markets. As of Q1 FY26, Waaree’s order book stood at nearly Rs 47,000 crore, with about 57% linked to exports.

Market participants fear that any rollback of clean energy incentives in the US could hurt global demand, impacting order flows for Indian manufacturers.

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