Tesla (NASDAQ: TSLA) is actively lobbying the U.S. Senate to retain key clean energy tax credits that are under threat from a House-passed reconciliation bill. The proposed legislation aims to roll back significant portions of the Inflation Reduction Act, including the 30% tax credits for residential solar installations and clean energy projects, which are currently set to expire in 2032. Tesla’s energy division, which reported a 67% year-over-year revenue increase to $2.7 billion in Q1 2025, heavily relies on these incentives. The company warns that abrupt termination of these credits could jeopardize America’s energy independence and hinder the deployment of over 60 gigawatts of clean energy capacity annually, essential for supporting AI and domestic manufacturing growth.
As of May 29, 2025, Tesla’s stock is trading at $361.70, reflecting an increase of $4.80 (1.35%) from the previous close.
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Tesla Inc. is a leading electric vehicle and clean energy company, committed to accelerating the world’s transition to sustainable energy. Founded in 2003, Tesla designs and manufactures electric vehicles, battery energy storage systems, and solar energy products for residential and commercial use. With a mission to create compelling electric vehicles and energy solutions, Tesla continues to innovate in the automotive and energy sectors.
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