Renewable-energy stocks have tumbled since Trump won the election as markets eye the potential for the president-elect to roll back green-energy policies.

Energy stocks were some of the biggest winners on Wednesday after Donald Trump clinched the presidential election. Trump went all-in on oil during his campaign, promising to open up more land to drilling and reduce environmental rules.

Trump, a climate change denier, is expected to upend green policies implemented by the current administration, which include solar tax credits and incentives that were part of incumbent President Joe Biden’s Inflation Reduction Act.

Donald Trump’s victory puts a skeptic of global warming back in the White House, triggering an about-face on climate policy that threatens to derail billions of dollars in clean-energy investment and slow a reduction in the nation’s emissions.

Renewable energy stocks plunged following Donald Trump’s election victory Tuesday, as the sector braces for the real possibility that the president-elect actually does “drill, baby, drill.”