U.S. solar stocks slid in premarket trading on Tuesday after a Senate panel proposed phasing out solar and wind tax credits by 2028, part of changes to President Donald Trump's sweeping tax-and-spending bill.

Solar stocks slid after Senate Republicans detailed revisions to the House's tax-and-spending bill that included fully phasing out wind- and solar-tax credits. The Senate's plan would see credits phased out from 2026,

Hopes for legislative help were dashed by the latest version of President Trump's "One Big, Beautiful Bill" now in the U.S. Senate's hands.

U.S. solar stocks slid in premarket trading on Tuesday after a U.S. Senate panel proposed phasing out solar and wind tax credits by 2028.

Solar stocks tumbled amid worries that Congress may phase out tax credits for solar, wind and other energy sources that produce fewer emissions that change the Earth’s climate.