Senate Republicans released a bill that would end tax credits for wind and solar earlier than for other sources, and make only modest changes to most other incentives, dashing hopes of those seeking relief from major cuts passed by the House.

A U.S. Senate panel proposed a full phase-out of solar and wind energy tax credits by 2028 but extended the incentive to 2036 for hydropower, nuclear and geothermal energy, which are favored by President Donald Trump's administration,

Shares of Enphase Energy, which makes solar inverters, dropped 15% in after hours trade. Solar panel sellers Sunrun and SolarEdge Technologies both tumbled more than 20%. First Solar lost 9%. The modified text of Trump's "One Big Beautiful Bill Act" also extends tax credits for hydro,