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The removal of the tax may lead to increased investments in renewables, benefiting ARRY. Historical trends show that tax incentives boost stock prices in the clean energy sector.
What happened, with direct paths to the underlying reporting
Clean energy stocks rose after tax removal from Senate bill. NextEra Energy and AES saw share increases of nearly 3% and 2%. Array Technologies' shares jumped over 11% amidst the positive news. The tax removal was seen as a relief by renewable energy advocates. Concerns remain about the overall impact of the legislation on clean energy.
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