- The stock price of Sunrun (RUN) surged by over 20% during intraday trading today. This is why.
The stock price of Sunrun (RUN) surged by over 20% during intraday trading today. Investors are responding positively to reports that Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.V., saying that they have reached a deal on an ambitious climate spending package. The “Inflation Reduction Act of 2022” specifically includes $369 billion for clean energy provisions. This package serves as a major relief for advocates of climate action and clean energy.
The bill will be considered by the full Senate next week. And it includes a 10-year extension of clean energy tax incentives.
The Investment Tax Credit was last extended in 2020. And it was set to decrease at the end of this year. And the provisions for electric vehicles, hydrogen, and nuclear power companies were also included in the funding.