According to the financial news app, previously, usa Republican Congressman John Moolenaar from Michigan and Democratic Congressman Jared Golden from Maine submitted a resolution to the House of Representatives proposing to suspend the Production Tax Credit (PTC) for advanced manufacturing in the United States. In response to this news, most solar energy stocks in the US rose on Monday. Enphase Energy (ENPH.US) increased by 8.4%, Solaredge Technologies (SEDG.US) increased by 15.9%, Canadian Solar (CSIQ.US) increased by 9.7%, Sunrun (RUN.US) increased by 9.6%, Sunnova Energy (NOVA.US) increased by 9%, Array Technologies (ARRY.US) increased by 5.9%, Shoals Technologies (SHLS.US) increased by 4.9%, Jinkosolar (JKS.US) increased by 4%, First Solar (FSLR.US) increased by 3.4%, Fluence Energy (FLNC.US) increased by 2.1%.

Data shows that the 45X tax exemption policy is a key provision in the US Inflation Reduction Act (IRA), aimed at encouraging companies to invest in and build clean energy manufacturing facilities domestically in the United States, promoting the development of the US clean energy industry. This policy provides tax incentives for the production of eligible products such as solar cells, silicon wafers, polysilicon, back panels, modules, tracking brackets, power inverters, etc.

Some US lawmakers are concerned that foreign companies, especially those related to so-called 'Foreign Entities of Concern' like China, may benefit from this tax credit policy, potentially harming the interests of US domestic companies. They believe that this policy could lead to the outflow of US tax funds overseas without truly promoting the development of domestic manufacturing, hence proposing to suspend this tax credit policy to protect the competitiveness of American domestic companies.