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Solar Alliance Energy (TSXV:SOLR) gives an overview of the “American Jobs Plan”
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  • Solar Alliance Energy Inc. (SOLR) gives an overview of the “American Jobs Plan” and provides significant support for U.S. solar industry
  • Two key provisions will provide long term stability and growth potential for Solar Alliance
  • President Biden proposes a ten-year extension of the Investment Tax Credit and an expanded “direct pay” ITC for solar projects
  • The current ITC is a 26 per cent tax credit for solar systems
  • Solar Alliance Energy Inc. (SOLR) is up 11.69 per cent and is trading at C$0.43 at 2:43 pm ET

Solar Alliance Energy Inc. (SOLR) gives an overview of the American Jobs Plan proposed by U.S. President Biden and the positive impact it believes those proposals will have on the U.S. solar industry.

President Biden is proposing a ten-year extension of the Investment Tax Credit and an expanded “direct pay” ITC for solar projects.

These two key proposals can accelerate Solar Alliance’s growth and Sollar Alliance's ability to own and operate solar projects.

With operations focused in the U.S. and with a backlog of projects under various stages of agreement with combined capital costs totalling approximately US$66 million, Solar Alliance is well-positioned to benefit from these two key provisions jobs plan.

Solar Alliance believes the American Jobs Plan announced by President Joe Biden will provide historic support for the U.S. solar industry and contribute to a strong recovery post-COVID-19.

“The U.S. solar industry has received a tremendous show of support from President Biden as the country begins to emerge from the economic slowdown caused by COVID-19,” said CEO Myke Clark.

“The American Jobs Plan contains key provisions that will accelerate our growth as a company and allow us to contribute to the rebuilding of the economy through clean energy project deployment,” added Clark.

The current ITC is a 26 per cent tax credit for solar systems.

According to the Solar Energy Industries Association, the solar ITC has helped the U.S. solar industry grow by more than 10 thousand per cent since it was implemented in 2006, with an average annual growth of 50 per cent over the last decade alone.

“The provisions contained in the American Jobs Plan align perfectly with our growth strategy and will help support jobs and clean energy deployment in the U.S.,” concluded Clark.

Solar Alliance Energy Inc. (SOLR) is up 11.69 per cent and is trading at C$0.43 at 2:43 pm ET.

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