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SinglePoint Inc. Anticipates Significant Increases In Solar Energy Projects from Tax Credit Extension and Climate Bill
SinglePoint Inc. Anticipates Significant Increases In Solar Energy Projects from Tax Credit Extension and Climate Bill.
About this update from Singlepoint, Inc.
[{"type":"text","content":"\n\n\n\nSinglePoint Inc. Anticipates Significant Increases In Solar Energy Projects from Tax Credit Extension and Climate Bill\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nSinglePoint Inc. Anticipates Significant Increases In Solar Energy Projects from Tax Credit Extension and Climate Bill\nPR Newswire\nPHOENIX, Aug. 9, 2022\n\n\n\nPassage of Inflation Reduction Act Could Dramatically Improve Solar Project Economics for Homeowners and Commercial Property Owners\nPHOENIX, Aug. 9, 2022 /PRNewswire/ -- SinglePoint, Inc. (OTCQB: SING) (\"SinglePoint'' or \"the Company''), a solar energy and sustainable solutions provider, announced today that its subsidiary, The Boston Solar Company LLC, expects to see substantial increases in residential solar energy projects due to the Inflation Reduction Act which passed on Sunday, August 7th, 2022. The climate change and tax package passed by the Senate on Sunday will provide $370 billion in funding for clean energy, including extending and increasing lucrative tax credits for solar energy, enabling residential homeowners to claim up to 30% of the value of a solar project as a tax credit.\n\n \n \n \n \n \n \n\n \nThe legislation provides a 30% tax credit for installing residential solar panels until Dec. 31st, 2034. The tax credit would decline to 26% for solar panels put into service after Dec. 31st, 2032, and before Jan. 1st, 2034. Additionally, homeowners installing solar battery systems with at least three kilowatt-hours of capacity qualify for the tax credit. The 30% credit will be retroactive to anyone who installed their system from the beginning of 2022. The tax credit also applies to energy storage, whether it is co-located or installed as standalone energy storage. This enables consumers to retrofit an array of batteries with a wide range of solar infrastructure, significantly increasing immediate revenue opportunities for SinglePoint through its majority-owned subsidiary, Boston Solar.\nWil Ralston, CEO SinglePoint, said. \"SinglePoint is capable of exponentially increasing revenue due...