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Solar Stocks Rally as Tech Lobby Pushes Back Against Subsidy Cuts
Solar Stocks Rally as Tech Lobby Pushes Back Against Subsidy Cuts
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BTCCSquare news:
First Solar shares surged 11% Friday as the Data Center Coalition lobbied to preserve renewable energy subsidies. The Biden administration's Inflation Reduction Act had provided tax incentives for green energy, but the TRUMP administration seeks to roll them back.
The coalition, representing major tech firms, argues that limiting solar subsidies WOULD hinder AI development. Data centers require expanding energy capacity to meet AI's demands, making renewable sources critical. Solar stocks across the board gained momentum on the news.
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