Expecting Exponential Growth in Lucrative Solar Energy Investment Opportunity
Charlotte, NC , February 27, 2023 -- Branded Legacy, Inc. (OTC: BLEG), a holding company that specializes in growth through acquisitions with a focus in the CBD industry, has started off the year strong with several new hires and investments in solar energy. With the global supply of natural gas expected to remain tight and electric tariffs set to rise, the company is making moves to mitigate these challenges and further increase sales in 2023.
The Inflation Reduction Act has introduced new incentives for solar power generation, which Branded Legacy, Inc.'s subsidiary is taking advantage of by investing in onsite solar generation. This move not only helps to reduce electricity costs but also promotes sustainable energy practices, benefiting both the environment and the bottom line.
The US solar industry is also set for rapid growth, with many gigawatts of capacity expected to come online as solar imports resume their normal pace. This is further supported by the improved Investment Tax Credit and the Production Tax Credit of $26/MWh, which developers can choose instead of the ITC. With the growth forecast for the US solar industry at 21% annually between 2023 and 2027, Branded Legacy, Inc.'s subsidiary is well-positioned to capitalize on this trend.
Rising electric tariffs have also improved the business case for solar, making it a more attractive option for commercial businesses. Federal tax credits for energy storage and zero-emission vehicles have been improved, with the previous restriction on commercial battery systems limiting the use of batteries removed. This means that federal tax credits are now available for all commercial battery systems with at least 5 kWh of capacity, regardless of how they interact with solar panels.
Branded Legacy, Inc.'s subsidiary is excited about the opportunities that lie ahead in 2023 and beyond. With new hires, investments in solar energy, and a growing industry, the company is poised for success and is committed to delivering value to its customers while promoting sustainable practices.
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