Solar Industry Awaits Next Week’s Scheduled Congressional Vote On President Biden’s Proposed $1.85 Trillion ‘Build Back Better’ Bill, But Contents Including Al-ternative Energy Sector Impacting Solar Are In Final Negotiations Before Reaching Senate Floor

 In NASDAQ: BLNK, NASDAQ: CSIQ, NASDAQ: FSLR, NASDAQ: ROCK, NASDAQ: RUN, NASDAQ: SEDG, NASDAQ: SPWR, NASDAQ: TSLA, NYSE: GM, NYSE: SPRQ, OTC PINK: SIRC

President Biden’s ‘Build Back Better’ bill could have a Congressional vote as soon as next week. But before reaching the Senate floor, key elements are still facing final negotiations. This started out as $1.75 trillion legislation, moved to $1.85 trillion and now is termed $4.0 trillion — when all costs are considered. Whatever the final number, this White House signature legislation has pro-solar elements such as a tax credit extension and grants within it now. By the time it reaches a vote as soon as next week, it will probably look different.

stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunburn, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).

Solar Industry Awaits Next Week’s Scheduled Congressional Vote On President Biden’s Proposed $1.85 Trillion ‘Build Back Better’ Bill, But Contents Including Alternative Energy Sector Impacting Solar Are In Final Negotiations Before Reaching Senate Floor

Solar installers, such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), are awaiting final approval of a pro-solar version. 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.

As part of an eco-system alternative energy spending package, Biden’s ‘Build Back Better’ bill is a massive social spending bill. It also allocates funding support for solar, wind and other alternative energy sectors.

Key is winning the support of Sen. Joe Manchin and Sen. Krysten Sinema. Other moderate Democrats, with an eye of next year’s mid-term elections, also appear skittish approving elements of the proposed bill. Solar Industry Awaits Next Week’s Scheduled Congressional Vote On President Biden’s Proposed $1.85 Trillion ‘Build Back Better’ Bill, But Contents Including Alternative Energy Sector Impacting Solar Are In Final Negotiations Before Reaching Senate Floor.

The solar industry, including installation firms like Solar Integrated Roofing Corp. (OTC PINK: SIRC), want the solar tax incentives approved to enable them to close sales on more solar installations.

SIRC is halfway home. Last week, Congress passed the $1.2 trillion first Infrastructure Bill. In it was $7.5 billion for electric vehicles and grants to propel building of more EV Charging Stations. Through its subsidiary PLEMCo., SIRC is in the EV Charging Station business and hopes to grow with more acquisitions in this space.

SIRC itself is an applicant for about $100 million in government grant to help build more EV Charging Stations. President Biden wants a national network of 500,000 charging stations completed by 2030. Solar funding is now the next step in the two-bill infrastructure process.

Installers of EV Charging Stations, such as  Solar Integrated Roofing Corp. (OTC PINK: SIRC), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA) and others will benefit from the passage of the Infrastructure bill. Funding for electric vehicles and their supporting network of EV Charging Stations means more money from the federal government in the $1.2 trillion infrastructure program. Analysts say the stock prices of firms above could rise as a result.

President Biden still has not signed the newly  passed bill into law, but he will do so. The bi-partisan Infrastructure bill received 13 Republican approval votes. Solar Industry Awaits Next Week’s Scheduled Congressional Vote On President Biden’s Proposed $1.85 Trillion ‘Build Back Better’ Bill, But Contents Including Alternative Energy Sector Impacting Solar Are In Final Negotiations Before Reaching Senate Floor.

The goal is to offer incentives, rebates and grants to get consumers to buy EVs. The goal in part is a Biden Administration deadline for a 500,000 EV Charging Station national network. Funding and grants are for electric vehicle OEM manufacturers and installers of EV Charging Stations. The spending is designed to alleviate range anxiety from potential buyers concerned about running out of charge on longer trips.

SIRC is an applicant for about $100 million in government grants towards building more EV Charging Stations. David Massey, Chairman and CEO of SIRC, said he remains optimistic about approval on the grants — but said he had heard no definitive news yet.

As proposed now, the solar sector would receive funding for consumer and commercial buyers in the form of extensions of the solar tax credits. Passage in some form looks assured. The $550 billion in the new compromised $1.85 trillion second Infrastructure Bill is a compromise. The deal as now proposed includes about $320 billion in tax credits for companies that buy and build solar, wind and nuclear power, and drivers who purchase electric vehicles.

The new spending package calls for some $1.85 trillion. It includes $320 billion for clean energy initiatives via tax credits. It would mark the biggest spending program on climate investment in U.S. history.

Solar Industry Awaits Next Week’s Scheduled Congressional Vote On President Biden’s Proposed $1.85 Trillion ‘Build Back Better’ Bill, But Contents Including Alternative Energy Sector Impacting Solar Are In Final Negotiations Before Reaching Senate Floor

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

Source: Stock Market Press

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