Congress talked the talk about tax extensions for solar in 2021. But now Congress is coming back into session and can it walk the walk about solar tax extensions and funding solar initiatives in 2022? It needs to pass Biden’s Build Back Better (BBB) bill into law this new year to extend tax credits for solar and fund solar projects. Solar installers like Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) need those to help is grow and close more installation projects.
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Congress Is Back: Will It Do Better For Solar In 2022; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Core Business Is Solar System Installations
Deadlines for the BBB bill are moving like goal posts. It has already passed the House, but the Senate remains another challenge for federal legislators. The price of the proposed bill keeps dropping and, with it, dollar support for solar — in the form of higher and longer federal tax credits and outright funding for more solar initiative projects.
SIRC and other solar installers want government help to grow. In its EV Charging Station business, operated by subsidiary PLEMCo., SIRC found welcome relief in the original Infrastructure law. Some $7.5 billion is carved out in that new law to fund green projects, such as electric cars and their supporting EV Charging Stations.
The BBB bill is geared more to ‘social’ infrastructure and includes solar tax credits. Installers like SIRC are watching the BBB bill closely as they anticipate similar support to solar. But some Washington insiders are not so sure it will pass in its current form. Negotiations are taking place behind closed doors in 2022 — and passage is still expected, but how many dollars will remain for solar and other green energy projects remain unknown.
Analysts from Morgan Stanley, Goldman Sachs, JP Morgan and other large financial firms believe it is only a matter of time before a version of BBB becomes law. Congress Is Back: Will It Do Better For Solar In 2022; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Core Business Is Solar System Installations
It could cut by about 30% the cost of installing solar and is expected to …….