The Senate version of the bill includes a provision that would fully phase out both solar and wind power tax incentives by 2028. It does, however, keep incentives for nuclear, hydropower and geothermal energy for longer.

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.

Shares of U.S. solar energy companies tumbled in extended trade on Monday after Republicans who control the U.S. Senate Finance Committee unveiled changes to President Donald Trump's sweeping tax-cut and spending bill that would phase out solar,