- Boston Solar, a leading solar provider, saw monthly and quarterly improvements
- Sales and installs increase month over month
- Cut Inflation Bill Adds Incentives for Commercial-Scale Projects, Energy Storage and Electric Vehicles and Charging
BOSTON, November 1, 2022 /PRNewswire/ — Boston Solar, a clean energy installer for commercial and retail spaces and a subsidiary of SinglePoint, Inc. (OTCQB: SING), today announced that it has taken another step in the journey growth of the company with its solar installations and purchases. Boston Solar continues to be the leading residential solar contractor based in Massachusettswith more than 5,000 installations in 11 years, and has advanced major commercial projects, such as Fenway’s MGM Music Hall solar installation.
The company remains committed to helping consumers save money while improving the environment and supporting its local community. Boston Solar is proud to help customers create energy independent homes and achieve their energy independence benefits. Boston Solar helps all customers achieve these metrics while providing a superior customer experience.
Solar panels are a lucrative investment for businesses that can significantly improve buildings for employees and a company’s bottom line. With the passage of the Cut Inflation Act of 2022, solar is an even more economically efficient option for business owners who want to reduce operating costs and increase profitability. On August 16, 2022President Biden signed into law the Inflation Reduction Act (IRA) after passing both houses of Congress, bolstering the federal government’s most expansive current program for rooftop solar: the solar investment tax credit.
The tax credit benefits both homeowners and businesses that choose to install rooftop solar panels by allowing a tax credit, not just a deduction, of the associated costs. With the IRA changes, the tax credit is currently 26% but will be increased to 30% of expenses for another ten years. As this rate declines, Congress will consider the tax credit again in 2035. The tax credit, also known as ITC, covers the costs of solar panels, installation labor, devices energy storage and certain sales taxes. ITC benefits any purchase of solar power systems; however, this does not apply if you do not own the panels. The ITC tax credit can be claimed for federal tax returns using IRS Form 5695. This credit offers a faster return on investment than most fossil fuel generators.
In addition to the ITC, each State offers its tax incentives and exemptions for the purchase and installation of solar panels. Typically, these exemptions cover property tax or sales tax. With these and other incentives, the United States is making clean energy a convenient and efficient energy alternative for homeowners and businesses, creating sustainable savings through access to solar power systems. Boston Solar is well positioned to help customers meet their individual solar energy needs.
Solar tax exemptions provide more incentives for residents and business owners to switch to using cleaner rooftop energy. Moving away from standard electricity opens up a whole new world of benefits to explore. Installing your own solar power system could be a decision that will bring about lasting change for yourself and for the world.
About Boston Solar, Proud Partner of the Boston Red Sox
Since its inception in 2011, Boston Solar has installed more than 5,000 residential and commercial solar panels, powering thousands of homes and businesses in New England, primarily in Massachusetts. Boston Solar’s mission is to provide premium clean energy products, exceptional customer service and the highest quality artistry in residential and commercial installations.
Boston Solar has accumulated several honors recognizing the company’s outstanding triumphs: Honored Guild Master Award 2020 from GuildQuality, the award recognized how Boston Solar has demonstrated exceptional customer service in the homebuilding industry. For five consecutive years, the Company has been named Best Solar Contractor by Solar Power World magazine. Additionally, the company is applauded by the Boston Business Journal’s “The largest clean energy companies in Massachusetts” listing. Boston Solar is a member of the Solar Energy Business Association of New England (SEBANE). The company is headquartered at 55 Sixth Road, Woburn, Mass. 01801. Learn more about: www.bostonsolar.us.
About SinglePoint Inc. (OTCQB: SING)
SinglePoint is a sustainable lifestyle company in the solar energy and air purification markets. The company plans to build the largest network of renewable energy solutions and modernize the traditional business model of solar power and energy storage. SinglePoint continues to execute its acquisition strategy by exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, as well as energy efficiencies and additional appliances that improve sustainability and healthier living. For more information, visit the Company’s websites: www.singlepoint.com, www.bostonsolar.usand www.boxpureair.com.
Certain statements in this press release may contain forward-looking information within the meaning of Rule 175 of 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 revenue projections, financing opportunities, potential plans and objectives of the company, 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 and other complications that may arise could prevent the timely implementation of any strategically significant plan described above. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
SOURCE SinglePoint Inc.