U.S. solar stocks slid in premarket trading on Tuesday after a Senate panel proposed phasing out solar and wind tax credits by 2028, part of changes to President Donald Trump's sweeping tax-and-spending bill.

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.

Solar stocks slid after Senate Republicans detailed revisions to the House's tax-and-spending bill that included fully phasing out wind- and solar-tax credits. The Senate's plan would see credits phased out from 2026,