Historic bill positions America as leader in Clean Energy; SinglePoint applauds Biden Administration signing into law H.R. 5376: Inflation Reduction Act of 2022

Rhea-AI Summary

On August 17, 2022, SinglePoint, Inc. (OTCQB: SING) commended President Biden for signing the Inflation Reduction Act, emphasizing its historic $369 billion investment in clean energy. The Act will enhance incentives for solar energy, EV charging stations, and energy efficiency measures. CEO Wil Ralston stated that this legislation positions the company and its subsidiary, Boston Solar, to capitalize on growing consumer demand for renewable energy. The Act not only supports the clean energy sector but also aids in developing domestic manufacturing and improving air quality in schools.

Positive

• The Inflation Reduction Act allocates $369 billion for clean energy initiatives, benefiting SinglePoint's business model.
• Incentives for solar energy and EV charging stations position SinglePoint to capture consumer demand.
• The Act aligns with SinglePoint's ongoing acquisition strategy and expansion in renewable energy sectors.

Negative

• None.

PHOENIX, Aug. 17, 2022 /PRNewswire/ -- SinglePoint, Inc. (OTCQB: SING) ("SinglePoint'' or "the Company''), a renewable energy and sustainable solutions provider, today proudly applauds President Joe Biden for signing the Inflation Reduction Act of 2022 into law. This historic 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.

The Bill's allocation of $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.

Wil Ralston, CEO of SinglePoint, commented, "The Inflation Reduction Act is the largest investment in clean energy in federal history. It is a massive step toward developing clean energy throughout the country. 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. 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 (IAQ)--two verticals that have significant government tailwinds in markets that create higher quality living standards for people throughout the nation."

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, President Biden has ensured that the production and growth of clean energy and sustainability-focused solutions will benefit Americans on an unprecedented economic scale. 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. For all these reasons, SinglePoint, Inc. celebrates this historic achievement for the Administration and the American people.

The Inflation Reduction Act of 2022 underlines the work of SinglePoint, Inc. and its subsidiaries. We continue executing our business plans, which include becoming one of the top solar providers in the United States. With the Company's subsidiaries, SinglePoint continues offering services that enhance and provide consumers and commercial-interests resources to become increasingly energy efficient. The bolstered tax credits and incentives outlined in the Inflation Reduction Act align with the Company's goals, and the legislation may bolster SinglePoint's acquisition-and-partnership strategy. Following a year of record revenue growth and continued opportunities, the Company is ready to meet consumer demand boosted by Biden's climate policies. Encouraged by the actions of the Biden Administration, 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.

About SinglePoint Inc (OTCQB:SING)

SinglePoint is a solar energy and sustainable lifestyle Company currently in the solar energy and air purification markets. The Company's goal is to build the largest network of renewable energy solutions and modernize the traditional solar energy and energy storage business model. The Company continues executing its acquisition strategy and is exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies and appliances that enhance sustainability and healthier life.

For more information, visit the Company's websites

www.singlepoint.com, www.bostonsolar.us, and www.boxpureair.com.

Forward-Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, the use of proceeds, anticipated growth and future expansion, are forward-looking statements that involve risks and uncertainties.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

Investor Contact:
Tra-Digital IR
Investors@SinglePoint.com
(212) 389 - 9782 ext. 107

 

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SOURCE SinglePoint Inc.

FAQ

What is the significance of the Inflation Reduction Act for SinglePoint (SING)?

The Inflation Reduction Act provides $369 billion in incentives for clean energy, which will help SinglePoint expand its solar and energy storage services.

How will the Inflation Reduction Act impact solar energy companies like SinglePoint?

The Act offers tax credits and incentives that can enhance demand for solar energy solutions provided by companies like SinglePoint.

What are the key benefits outlined in the Inflation Reduction Act for consumers?

The Act includes incentives for energy-efficient options, tax credits for solar panels, EV charging stations, and green energy storage.

When was the Inflation Reduction Act signed into law?

The Inflation Reduction Act was signed into law by President Biden on August 16, 2022.

How does SinglePoint plan to leverage the Inflation Reduction Act?

SinglePoint aims to optimize its acquisition strategy and increase its offerings in solar energy and air purification in response to the new incentives.