Featured in Mountains to climb – 05-2026

Policy risk and capital friction

As the US solar industry continues to adjust to life under the One Big Beautiful Bill Act (OBBBA), Jesse Pichel and Lev Seleznov of Roth Capital Partners note two risks that are drawing attention across the market. These include the potential for a second reconciliation bill that could reopen elements of solar policy, and continued friction in tax equity and tax credit transfer markets tied to unresolved Foreign Entity of Concern (FEOC) and Prohibited Foreign Entities (PFE) guidance. Taken together, these issues show that policy risk has not disappeared for US solar – in some respects, it is evolving.

By

pv magazine

11 May 2026

05022_rafael-as-martins–unsplash-wall_street

Image: Rafael AS Martins/Unsplash

Recent industry checks suggest the possibility of another reconciliation bill is moving from speculation to something the market should monitor more closely. Discussions in Washington, DC, indicate policymakers may be evaluating additional changes to energy provisions, including measures that could support domestic manufacturing while potentially creating new challenges for project developers. One area drawing attention …

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