Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTCQB: SAENF) is pleased to provide an update on the Inflation Reduction Act (“IRA”), which was signed into law yesterday by U.S. President Joe Biden.
“The Inflation Reduction Act is the largest climate bill in U.S. history and provides substantial long-term support to the solar and energy storage industry,” said CEO Myke Clark. “For Solar Alliance and our customers, the new legislation provides significant savings on solar systems through increased tax credits that can reach as high as 60% of a project’s capital costs. As a company that is 100% focused on the U.S. solar industry, Solar Alliance is well positioned to continue our growth in the commercial and utility solar sector.”
The climate initiative includes long-term solar and storage tax incentives, investments in domestic solar manufacturing and other critical provisions that will help decarbonize the electric grid with significant clean energy deployment. Specifically:
“This climate initiative is aimed at reducing greenhouse gas emissions by 40 percent below 2005 levels by 2030 through a series of initiatives that would directly benefit solar consumers. This legislation aligns perfectly with our growth strategy and will help support jobs and clean energy deployment in the U.S.,” concluded Clark.
Myke Clark, CEO
For more information: |
Solar Alliance Sales (865) 309-4674 This email address is being protected from spambots. You need JavaScript enabled to view it. Investor Relations Myke Clark, CEO 416-848-7744 This email address is being protected from spambots. You need JavaScript enabled to view it. |
About Solar Alliance Energy Inc. (www.solaralliance.com)
Solar Alliance is an energy solutions provider focused on commercial and industrial solar installations. The Company operates in Tennessee, Kentucky, North/South Carolina and Illinois and has an expanding pipeline of solar projects in the United States. Since it was founded in 2003, the Company has developed $1 billion of renewable energy projects that provide enough electricity to power 150,000 homes. Our passion is improving life through ingenuity, simplicity and freedom of choice. Solar Alliance reduces or eliminates customers' vulnerability to rising energy costs, offers an environmentally friendly source of electricity generation, and provides affordable, turnkey clean energy solutions.
Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. The words “would”, “will”, “expected” and “estimated” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
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