Shares of solar and wind energy companies, including SunRun (RUN), Enphase Energy (ENPH), First Solar (FSLR) and SolarEdge Technologies (SEDG), were down pre-bell Tuesday after US President Donald Trump issued an executive order rescinding subsidies for the industry.

SunRun and SolarEdge fell more than 5%, Enphase retreated more than 3% and First Solar declined more than 2% pre-bell.

In a statement Monday, the White House said it was ending subsidies for "expensive and unreliable energy sources like wind and solar," adding that they displace "affordable, reliable and dispatchable domestic energy sources."

The White House also said it will rapidly eliminate renewable energy subsidies and repeal and modify any tax credits.