Sunrun, First Solar Stocks Fall. Blame Trump’s Energy Stance.

President Donald Trump said his administration won’t approve wind or “farmer destroying” solar projects. (David Paul Morris/Bloomberg)

Shares of solar power companies were falling Thursday on concern that projects will face resistance from President Donald Trump.

In a social-media post Wednesday Trump said states that rely on wind or solar power are seeing increased energy prices, and that it’s “the scam of the century.” He added: “We will not approve wind or farmer destroying solar. The days of stupidity are over in the USA!!!”

He followed that up with posts citing Environmental Protection Agency administrator Lee Zeldin, saying that he wants to unleash energy dominance, and that the Trump EPA will terminate “green slush funds riddled with waste and abuse.”

The message seemed clear enough for investors in companies that work to provide solar and wind energy. Stock in Sunrun, a provider of residential solar energy systems, was down 6.8% when the market opened to $14.36. First Solar shares were down 3%. SolarEdge Technologies fell 3.1%.

Despite the dip, all three stocks have more than doubled over the past three months after the Treasury Department gave companies that want to install solar and wind projects the chance to continue receiving tax credits before new limits in this year’s tax bill kick in.

Write to Brian Swint at brian.swint@barrons.com