Enphase Sees 20% Drop in Home Solar Market on Subsidy Loss (1)

Enphase Energy Inc., a major US solar equipment company, sees the nation’s residential market shrinking 20% next year as tax credits for homeowners end under President Donald Trump’s sweeping economic legislation.

While some analysts have predicted even steeper declines, the estimate from Enphase marks one of the first big projections from an industry player since Trump’s spending bill was passed. The company is among the first US solar companies to report earnings this quarter.

Enphase’s shares were down more than 4% in pre-market trading Wednesday.

Read More: Enphase Falls as US Home Solar Market Set to Shrink: Street Wrap ...