Waaree Energies Future Threatened by US Solar Tax Incentive Rollback
The US House’s passage of a bill accelerating the withdrawal of solar tax incentives, reported on May 26, 2025, threatens Waaree Energies’ future, given its Rs 47,000 crore order book heavily tied to the US market.
The potential Senate approval could reduce US solar demand, impacting Indian exporters like Waaree, which derives 17-20% of its revenue from the US.
Despite a robust domestic market contributing 80% of its sales, a US slowdown may create pricing pressures.
Waaree’s US module plant expansion and confidence in its order book offer some resilience.
Analysts suggest focusing on India’s growing solar market to offset risks, as new US projects slow and upfront costs for solar installations rise without tax credits, shaping a cautious Waaree Energies future.
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