SolarEdge (SEDG) Nosedives 9.9% as Tax Credit Deadline Looms

SEDG -1.61%

We recently published 10 Stocks Already Hurting in December. SolarEdge Technologies, Inc. (NASDAQ:SEDG) is one of the top performers on Monday.

SolarEdge fell by 9.88 percent on Monday to finish at $32.92 apiece as investors unloaded positions amid the looming deadline for clean energy tax credits.

Currently, residential customers are enjoying as much as 30 percent tax credits from the government, a subsidy which will expire on December 31, 2025 as stated under the provisions of the One Big Beautiful Bill Act which President Donald Trump signed into law in July this year.

Analysts have earlier projected that the looming deadline could prop up sales of clean energy firms in the second half of 2025 on expectations that customers would scramble to get installations done prior to the deadline. Thereafter, earnings are expected to dwindle on expectations of lower solar installation sales.

Pixabay/Public Domain

In other news, SolarEdge Technologies, Inc. (NASDAQ:SEDG) announced that it successfully installed in Germany its CSS-OD storage system—its advanced energy storage solution designed for commercial and industrial facilities.

Following the launch, SolarEdge Technologies, Inc. (NASDAQ:SEDG) said that it received more than 150 orders equivalent to 15 MWh, reflecting strong demand from PV installers seeking to add energy storage services.

“The market response to the CSS-OD has been exciting, creating a strong new revenue stream that taps into our leading C&I solar business. With many countries in Europe shifting away from net metering and becoming self-consumption markets, the commercial storage segment is steadily growing,” said SolarEdge Technologies, Inc. (NASDAQ:SEDG) Chief Commercial Officer Naama Ohana.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.