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

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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 lead to more solar projects and ‘closes’ for tax credit savvy Americans, the industry hopes. But in 2022 the optimists just want the bill to become law in some form. They believe it will help solar, even if dollars are cut from the original proposal.

It faces the test of winning the support of Sen. Joe Manchin and Sen. Krysten Sinema in the Senate. Other moderate Democrats in the Senate now are concerned about the price tag and 2022’s mid-term elections.

Politicians on both sides of the aisle are concerned about being re-elected. 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

The Congressional Budget Office (CBO) in its analysis believes that the bill could add some $400 billion to the federal budget deficit.

Solar installers, such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), are awaiting final approval of the new bill because it could mean more solar installations, driven by tax incentives. It could drive perks for solar buyers — such as an extension of federal tax credits for as long as 10 years. It could also mean more funding for production of domestic solar panels.

The solar industry, including installation firms like Solar Integrated Roofing Corp. (OTC PINK: SIRC), like the approval of solar tax incentives. They believe it will  enable them to close sales on more solar installations.

Most important, SIRC and the solar installers want to see federal and state governments support more solar initiatives. They want more solar on federal land — and that is happening.

As proposed now, the solar sector in the pending ‘Build Back Better’ bill would receive funding for consumer and commercial buyers in the form of extensions of solar tax credits. The new spending package calls for the biggest spending program on climate investment in U.S. history.

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

Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.

Source: Stock Market Press

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