Singlepoint, Inc. (OTC:SING), a renewable energy and sustainable solutions provider, applauded US President Joe Biden for signing the Inflation Reduction Act of 2022 into law this week.
The act will result in major investments in clean energy, climate change initiatives, and solar incentives, benefiting solar, energy storage, electric vehicles (EV), and other clean energy initiatives in the US.
The bill's allocation of US$369 billion provides incentives for residential and commercial consumers to pursue energy efficient options, tax credits for solar panels, EV charging stations, and green energy storage.
READ: SinglePoint brings in record $4.5M revenue in 2Q fueled by Boston Solar acquisition
SinglePoint CEO Wil Ralston said the Inflation Reduction Act is the largest investment in clean energy in federal history, calling it a massive step forward to developing clean energy in the US.
“It will help decarbonize our energy production and improve our energy infrastructure. With tax incentives and direct pay opportunities our newly acquired subsidiary, Boston Solar, is well positioned to benefit from consumers looking for solar energy, energy storage and EV options,” Ralston said in a statement.
Bill H.R. 5376 also allocates funding for schools. SinglePoint subsidiary Box Pure Air has a pipeline of opportunities as well as existing clients purchasing other products.
“We will optimize cross selling opportunities when available. SinglePoint is firmly positioned in solar energy and indoor air quality – two verticals that have significant government tailwinds in markets that create higher quality living standards for people throughout the nation," Ralston said.
The bill further extends financial resources for continuing development of renewable energy production capabilities by supporting the development of new manufacturing operations within the United States.
The bill also provides funding for schools to pursue environmental action plans around air pollution and air quality.
By signing this bill, Biden has ensured the production and growth of clean energy and sustainability-focused solutions will benefit Americans on an unprecedented economic scale, according to SinglePoint.
Homeowners, businesses, and schools will have financial incentives to pursue efficient structural improvements to their properties and municipalities, with the potential to produce cleaner air, cleaner energy, and a better climate.
Following a year of record revenue growth and continued opportunities, the company is ready to meet consumer demand boosted by Biden's climate policies. SinglePoint will be able to seek out additional acquisition-and-partnership opportunities, develop and offer prospects that provide solar power, energy storage, and air purification to residents and communities across the United States.
Contact the author at susie@proactiveinvestors.com