#Lithium #Stocks Rise to Meet Global #EV Demand (CSE: $GEMS.C) (OTC: $TLOOF) (TSXV: $PMET.V) (TSXV: $ABR.V) (OTC: $CXOXF) (NASDAQ: $TSLA) (TSXV: $RCK.V) (OTC: $MGBAF) @GEMS_ISV @Patriot_Battery @CorpArbor @CoreLithium @tesla @RockTechLithium @MercedesBenz

#Lithium #Stocks Rise to Meet Global #EV Demand (CSE: $GEMS.C) (OTC: $TLOOF) (TSXV: $PMET.V) (TSXV: $ABR.V) (OTC: $CXOXF) (NASDAQ: $TSLA) (TSXV: $RCK.V) (OTC: $MGBAF) @GEMS_ISV @Patriot_Battery @CorpArbor @CoreLithium @tesla @RockTechLithium @MercedesBenz  

 

Vancouver, Kelowna, Delta, BC  – September 6, 2022 - Investorideas.com, a leading investor news resource covering lithium mining and EV stocks releases a special report on the continued demand for lithium, featuring Infinity Stone Ventures Corp. (CSE:GEMS) (OTC:TLOOF). Infinity Stone's mission is to be a diversified, single source supplier for the critical energy metals being used in the clean energy revolution.

 

Read this in full at https://www.investorideas.com/news/2022/mining/09061Lithium-Stocks-EV.asp

 

As more countries push forward with their green energy initiatives, the EV sector is driving growth for new lithium mining developments.

 

In recent news, “The global lithium-ion battery market is expected to grow by a factor of five to 10 in the next decade. Reaching aggressive targets for electric vehicles (EVs) and battery-based energy storage system production relies on materials such as lithium and rare earth metals. However, material shortages could stall the manufacturing of some clean energy technologies, which is concerning from a climate perspective.”

 

Lithium is a critical material in manufacturing the batteries used in EVs and energy storage systems. However, from September 2021 to March 2022, the price of the element increased by more than 400 percent, though it has recently leveled off. Nevertheless, skyrocketing material costs will result in higher prices for consumers.

 

Joe Lowry of Global Lithium doesn’t expect future lithium supplies to keep up with demand. “In the next two years, even though there will be significant growth in supply, it will be less than demand, so the gap will just continue to grow,” he explained in a recent interview with Bloomberg.

 

So how are companies looking to address this supply shortage right now?

 

Infinity Stone Ventures Corp. (CSE:GEMS) (OTC:TLOOF) recently announced that it  has entered into an option agreement to acquire, from an arm’s length party, a 100% interest in and to the Taiga Lithium Project adjacent to Patriot Battery Metals (TSXV:PMET) Corvette Lithium discovery in the James Bay Region of Quebec.  Patriot Battery Metals has made several recent announcements with regard to their project,  including their announcement on August 10, 2022 identifying "a total of thirty-one (31) spodumene-bearing pegmatite outcrops identified, including twenty (20) outcrops with estimated  >5% modal spodumene content”.

 

The 923-hectare Taiga Lithium Project is located 3.4 kilometres west of Infinity Stone’s Camaro Property, directly adjacent to Patriot Battery Metals Inc.’s Corvette Property, in the James Bay Region of Quebec, approximately 235 kilometres east of Radisson, Quebec and 245 kilometres northeast of the Cree village municipality of Nemaska. The northern edge of the Project is located approximately 15 kilometres south of the Trans-Taiga road and transmission line. The region has been historically explored for its rich gold, copper, silver, base metal and PGE deposits. 

 

“Infinity Stone is excited to further increase our position in the rapidly expanding James Bay Lithium District. Our team is hopeful that the identified LCT pegmatite trend in the corridor presents a number of occurrences trending northeast to southwest,” said Michael Townsend, Executive Chairman of Infinity Stone. “The Taiga Lithium Project is strategically positioned with  existing mapped pegmatites that present significant discovery potential given recent developments from other operators in the region,” further stated Mr. Townsend. “It is evident from regional mapping that there is a high potential there are additional pegmatites present on the Project,” concluded Mr. Townsend.

 

The addition of the Taiga Lithium Project to Infinity Stone’s existing land position in the area, being the Camaro Project, brings the Company’s total land position in the area to 1,282 hectares.

 

Patriot has been conducting grassroots exploration on the gold, copper, silver, molybdenum and PGE showings across its FCI and Corvette properties for several years. In 2017, Patriot discovered the CV Lithium Trend.

 

During the 1950s, lithium gained importance as a component of nuclear bombs and pharmaceuticals, and the area around Kings Mountain, near Charlotte, saw a major boom in mining. For about 30 years, the region supplied almost all the lithium in the world. Then in the 1980s, production moved to lower-cost operations overseas. Today, less than 1 percent of global lithium is mined in the United States, all from one mine in Nevada; the vast majority comes from Chile, Australia, and China.

 

Last summer, President Joe Biden signed an executive order calling for electric vehicles, which depend on lithium-based batteries, to make up 50 percent of all new vehicle sales by 2030. The Inflation Reduction Act, recently signed into law, aims to incentivize a domestic battery supply chain, providing tax breaks for mines and credits for electric cars and grid storage applications when a percentage of the battery is produced or recycled in the US.

 

Last year, Arbor Metals Corp. (TSXV:ABR) announced that, through its wholly-owned subsidiary Arbor Metals USA Corp., that it had secured 100% ownership of the Miller’s Crossing Lithium Project, Big Smoky Valley Nevada USA. The Miller’s Crossing project consists of 192 claims covering 3,800 acres in the Big Smoky Valley. The Project fits well into the playa-type brine deposit model as it is located adjacent to, and shares geological similarities with Clayton Valley, home to the only lithium producing brine operation in North America.

 

Not only have we witnessed an uptake in interest in lithium mining in the US but also in countries like Australia where, in recent news, Core Lithium Ltd (OTC:CXOXF) has come to a mutual agreement with electric car giant Telsa Inc. (NASDAQ:TSLA)  to extend the termination date for its binding offtake term sheet to October 26, 2022.

 

The agreement gives Tesla and Core the opportunity to finalise negotiations for the definitive full form binding offtake agreement, which would see Core supply Tesla with up to 110,000 dry metric tonnes of lithium spodumene concentrate produced at Core's Finnis Lithium Project near Darwin. This offtake is expected to start in 2023.

 

In the last four weeks, Core has presented plenty of news for investors to think about, including the start of a reverse circulation (RC) drilling campaign of more than 40,000 metres of greenfields and brownfields target areas at Finnis and the appointment of resources sector veteran Gareth Manderson as CEO of the Company.

 

Core is building Finnis, described as Australia's newest and most advanced lithium project on the ASX, in the Northern Territory. Finnis has been awarded Major Project Status by the Australian Federal Government and is one of the most capital-efficient lithium projects with arguably the best logistics chain to markets of any Australian lithium project. The Finnis Project is expected to provide the globe with high-grade and high-quality lithium suitable for lithium batteries used to power electric vehicles and renewable energy storage.

 

We are also seeing similar developments in Canada with Rock Tech Lithium Inc (TSXV: RCK) (OTCQX: RCKTF) and Mercedes-Benz AG (OTC:MGBAF) having recently announced that they are about to enter into an agreement which provides for a strategic partnership to produce high-quality lithium hydroxide for the automaker and its battery suppliers. Under the intended binding agreement, Rock Tech has agreed to deliver up to 10,000 tonnes per year of its planned production to the premium manufacturer and its partners starting in 2026.

 

Mercedes-Benz wants to become fully electric by the end of the decade. From 2025 onwards the luxury carmaker plans that all newly launched vehicle architectures will be all electric. To help make this a reality, Mercedes-Benz intends to enter a strategic partnership with Rock Tech, lasting for at least five years and an option to prolong.

 

From 2026 onwards, it is envisaged that Rock Tech contributes up to 10,000 tonnes of lithium hydroxide annually to Mercedes-Benz and its battery partners, starting with a qualification period and after quality and sustainability benchmarks have been met. This battery-grade lithium product is an essential component of high-performance vehicle batteries. The Canadian-German Rock Tech expects to become a central implementation partner for the automaker and its all electric and carbon neutral strategies.

 

"Mercedes-Benz plans to go all electric by the end of this decade, wherever market conditions allow. To scale up our electric vehicle production, access to raw materials is needed to improve the resilience and sustainability of the electric vehicle supply chain. With the Rock Tech partnership we intend to take a direct sourcing approach to secure the lithium supply for Mercedes-Benz battery production," says Markus Schaefer, Member of the Board of Management of Mercedes-Benz Group AG, Chief Technology Officer, responsible for Research & Development and Procurement.

 

As lithium mining and production spreads out globally in this “new era gold rush” we can expect in the near term to see a slight price drop and an increase in supply, however many EV producers are still far from scale production, which will be when the real test begins for many of these operations. We are witnessing a race between EV producers and the mining facilities they depend on for who can reach their target scale production first and while at the moment we are seeing growth and renewed investor interest in both sectors, we still face the question of will it be enough for this Green Revolution ? 

 

About Investorideas.com - News that Inspires Big Investing Ideas

Investorideas.com publishes breaking stock news, third party stock research, guest posts and original articles and podcasts in leading stock sectors.  Learn about investing in stocks and get investor ideas in cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy, gaming and more. Investor Idea’s original branded content includes podcasts and columns : Crypto Corner , Play by Play sports and stock news , Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast ,  Cleantech and Climate Change , Exploring Mining , Betting on Gaming Stocks Podcast and  the AI Eye Podcast.

 

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#Lithium #Stocks to Watch (CSE: $GEMS.CN) (OTC: $TLOOF) (TSXV: $PMET.V) (TSXV: $ABR.V) (OTC: $CXOXF) (NASDAQ: $TSLA) (TSXV: $RCK.V) (OTC: $MGBAF) @GEMS_ISV @Patriot_Battery @CorpArbor @CoreLithium @tesla @RockTechLithium @MercedesBenz

  #Lithium #Stocks to Watch (CSE: $GEMS.CN) (OTC: $TLOOF) (TSXV: $PMET.V) (TSXV: $ABR.V) (OTC: $CXOXF) (NASDAQ: $TSLA) (TSXV: $RCK.V) (OTC: $MGBAF) @GEMS_ISV @Patriot_Battery @CorpArbor @CoreLithium @tesla @RockTechLithium @MercedesBenz   

 

The Electric Future of #Lithium as it Aims to Meet the Global #EV Demand

 

Vancouver, Kelowna, Delta, BC  – September 2, 2022 - Investorideas.com, a leading investor news resource covering lithium mining and EV stocks releases a special report on the continued demand for lithium, featuring Infinity Stone Ventures Corp. (CSE:GEMS) (OTC:TLOOF). Infinity Stone's mission is to be a diversified, single source supplier for the critical energy metals being used in the clean energy revolution.

 

Read this in full at https://www.investorideas.com/news/2022/mining/09021Lithium-Stocks.asp

 

As more countries push forward with their green energy initiatives, the EV sector is driving growth for new lithium mining developments.

 

In recent news, “The global lithium-ion battery market is expected to grow by a factor of five to 10 in the next decade. Reaching aggressive targets for electric vehicles (EVs) and battery-based energy storage system production relies on materials such as lithium and rare earth metals. However, material shortages could stall the manufacturing of some clean energy technologies, which is concerning from a climate perspective.”

 

Lithium is a critical material in manufacturing the batteries used in EVs and energy storage systems. However, from September 2021 to March 2022, the price of the element increased by more than 400 percent, though it has recently leveled off. Nevertheless, skyrocketing material costs will result in higher prices for consumers.

 

Joe Lowry of Global Lithium doesn’t expect future lithium supplies to keep up with demand. “In the next two years, even though there will be significant growth in supply, it will be less than demand, so the gap will just continue to grow,” he explained in a recent interview with Bloomberg.

 

So how are companies looking to address this supply shortage right now?

 

Infinity Stone Ventures Corp. (CSE:GEMS) (OTC:TLOOF) recently announced that it  has entered into an option agreement to acquire, from an arm’s length party, a 100% interest in and to the Taiga Lithium Project adjacent to Patriot Battery Metals (TSXV:PMET) Corvette Lithium discovery in the James Bay Region of Quebec.  Patriot Battery Metals has made several recent announcements with regard to their project,  including their announcement on August 10, 2022 identifying "a total of thirty-one (31) spodumene-bearing pegmatite outcrops identified, including twenty (20) outcrops with estimated  >5% modal spodumene content”.

 

The 923-hectare Taiga Lithium Project is located 3.4 kilometres west of Infinity Stone’s Camaro Property, directly adjacent to Patriot Battery Metals Inc.’s Corvette Property, in the James Bay Region of Quebec, approximately 235 kilometres east of Radisson, Quebec and 245 kilometres northeast of the Cree village municipality of Nemaska. The northern edge of the Project is located approximately 15 kilometres south of the Trans-Taiga road and transmission line. The region has been historically explored for its rich gold, copper, silver, base metal and PGE deposits. 

 

“Infinity Stone is excited to further increase our position in the rapidly expanding James Bay Lithium District. Our team is hopeful that the identified LCT pegmatite trend in the corridor presents a number of occurrences trending northeast to southwest,” said Michael Townsend, Executive Chairman of Infinity Stone. “The Taiga Lithium Project is strategically positioned with  existing mapped pegmatites that present significant discovery potential given recent developments from other operators in the region,” further stated Mr. Townsend. “It is evident from regional mapping that there is a high potential there are additional pegmatites present on the Project,” concluded Mr. Townsend.

 

The addition of the Taiga Lithium Project to Infinity Stone’s existing land position in the area, being the Camaro Project, brings the Company’s total land position in the area to 1,282 hectares.

 

Patriot has been conducting grassroots exploration on the gold, copper, silver, molybdenum and PGE showings across its FCI and Corvette properties for several years. In 2017, Patriot discovered the CV Lithium Trend.

 

 

During the 1950s, lithium gained importance as a component of nuclear bombs and pharmaceuticals, and the area around Kings Mountain, near Charlotte, saw a major boom in mining. For about 30 years, the region supplied almost all the lithium in the world. Then in the 1980s, production moved to lower-cost operations overseas. Today, less than 1 percent of global lithium is mined in the United States, all from one mine in Nevada; the vast majority comes from Chile, Australia, and China.

 

Last summer, President Joe Biden signed an executive order calling for electric vehicles, which depend on lithium-based batteries, to make up 50 percent of all new vehicle sales by 2030. The Inflation Reduction Act, recently signed into law, aims to incentivize a domestic battery supply chain, providing tax breaks for mines and credits for electric cars and grid storage applications when a percentage of the battery is produced or recycled in the US.

 

Last year, Arbor Metals Corp. (TSXV:ABR) announced that, through its wholly-owned subsidiary Arbor Metals USA Corp., that it had secured 100% ownership of the Miller’s Crossing Lithium Project, Big Smoky Valley Nevada USA. The Miller’s Crossing project consists of 192 claims covering 3,800 acres in the Big Smoky Valley. The Project fits well into the playa-type brine deposit model as it is located adjacent to, and shares geological similarities with Clayton Valley, home to the only lithium producing brine operation in North America.

 

Not only have we witnessed an uptake in interest in lithium mining in the US but also in countries like Australia where, in recent news, Core Lithium Ltd (OTC:CXOXF) has come to a mutual agreement with electric car giant Telsa Inc. (NASDAQ:TSLA)  to extend the termination date for its binding offtake term sheet to October 26, 2022.

 

The agreement gives Tesla and Core the opportunity to finalise negotiations for the definitive full form binding offtake agreement, which would see Core supply Tesla with up to 110,000 dry metric tonnes of lithium spodumene concentrate produced at Core's Finnis Lithium Project near Darwin. This offtake is expected to start in 2023.

 

In the last four weeks, Core has presented plenty of news for investors to think about, including the start of a reverse circulation (RC) drilling campaign of more than 40,000 metres of greenfields and brownfields target areas at Finnis and the appointment of resources sector veteran Gareth Manderson as CEO of the Company.

 

Core is building Finnis, described as Australia's newest and most advanced lithium project on the ASX, in the Northern Territory. Finnis has been awarded Major Project Status by the Australian Federal Government and is one of the most capital-efficient lithium projects with arguably the best logistics chain to markets of any Australian lithium project. The Finnis Project is expected to provide the globe with high-grade and high-quality lithium suitable for lithium batteries used to power electric vehicles and renewable energy storage.

 

We are also seeing similar developments in Canada with Rock Tech Lithium Inc (TSXV: RCK) (OTCQX: RCKTF) and Mercedes-Benz AG (OTC:MGBAF) having recently announced that they are about to enter into an agreement which provides for a strategic partnership to produce high-quality lithium hydroxide for the automaker and its battery suppliers. Under the intended binding agreement, Rock Tech has agreed to deliver up to 10,000 tonnes per year of its planned production to the premium manufacturer and its partners starting in 2026.

 

Mercedes-Benz wants to become fully electric by the end of the decade. From 2025 onwards the luxury carmaker plans that all newly launched vehicle architectures will be all electric. To help make this a reality, Mercedes-Benz intends to enter a strategic partnership with Rock Tech, lasting for at least five years and an option to prolong.

 

From 2026 onwards, it is envisaged that Rock Tech contributes up to 10,000 tonnes of lithium hydroxide annually to Mercedes-Benz and its battery partners, starting with a qualification period and after quality and sustainability benchmarks have been met. This battery-grade lithium product is an essential component of high-performance vehicle batteries. The Canadian-German Rock Tech expects to become a central implementation partner for the automaker and its all electric and carbon neutral strategies.

 

"Mercedes-Benz plans to go all electric by the end of this decade, wherever market conditions allow. To scale up our electric vehicle production, access to raw materials is needed to improve the resilience and sustainability of the electric vehicle supply chain. With the Rock Tech partnership we intend to take a direct sourcing approach to secure the lithium supply for Mercedes-Benz battery production," says Markus Schaefer, Member of the Board of Management of Mercedes-Benz Group AG, Chief Technology Officer, responsible for Research & Development and Procurement.

 

As lithium mining and production spreads out globally in this “new era gold rush” we can expect in the near term to see a slight price drop and an increase in supply, however many EV producers are still far from scale production, which will be when the real test begins for many of these operations. We are witnessing a race between EV producers and the mining facilities they depend on for who can reach their target scale production first and while at the moment we are seeing growth and renewed investor interest in both sectors, we still face the question of will it be enough for this Green Revolution ?  

 

About Investorideas.com - News that Inspires Big Investing Ideas

Investorideas.com publishes breaking stock news, third party stock research, guest posts and original articles and podcasts in leading stock sectors.  Learn about investing in stocks and get investor ideas in cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy, gaming and more. Investor Idea’s original branded content includes podcasts and columns : Crypto Corner , Play by Play sports and stock news , Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast ,  Cleantech and Climate Change , Exploring Mining , Betting on Gaming Stocks Podcast and  the AI Eye Podcast.

 

Disclaimer/Disclosure: . Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required. Disclosure: this news article featuring GEMS is a paid for news release on Investorideas.com  (two thousand). Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

 

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#Cleantech #Stocks to watch following #ClimateBill  - (OTCQB: $SING) (NASDAQ: $SEDG) (NASDAQ: SPWR) (NASDAQ: $PLUG) @_Singlepoint_ @SolarEdgePV @SunPower @PlugPowerInc

Inflation Reduction Act Provides Economic Support and Growth for the Sector

Vancouver, Kelowna, Delta, BC, August 15, 2022, Investorideas.com, a leading investor news resource covering solar and clean energy stocks, released today a special report, featuring solar energy company, SinglePoint, Inc. (OTCQB: SING), on the growth of acquisitions and improved investor sentiment for the renewable energy sector following the news surrounding the Inflation Reduction Act.

 

Read this article, featuring SING in full at https://www.investorideas.com/news/2022/renewable-energy/08151Cleantech-Stocks-To-Watch.asp

 

In recent news, “The US Senate has just approved a bill which includes America’s most significant investment in climate action. Alongside healthcare commitments, the Inflation Reduction Act allocates $369 billion to renewable energy and reducing greenhouse gas emissions. Experts at several analysis firms have estimated that it could cut emissions in the US by around 40 per cent by 2030.”

 

President Joe Biden called the legislation the “largest investment ever in combating the existential crisis of climate change,” praising it for “making the wealthiest corporations finally pay their fair share”. It could bring the country close to Biden’s goal of cutting emissions in half by the end of the decade.

 

Investors saw several companies that released their Q2 financials pre-climate bill reap the benefits of an emboldened investor attitude towards green energy stocks.

 

SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, recently announced its financial results for the second quarter ended June 30, 2022 on August 2nd.

 

"The growing demand for energy in general and clean energy in particular continued to drive top line growth this quarter resulting in record revenues in Europe and the United States," said Zvi Lando, Chief Executive Officer of SolarEdge. "While we continue to face growing supply chain challenges, some related to our rapid growth in an environment of component shortages, and macro-economic trends as a result of our global footprint, we continue to support our customers while building the infrastructure for sustainable growth."

 

SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, released their financial results as well for the second quarter, ending July 3, 2022.

 

"There is a ubiquitous need for reliable electricity at an affordable price that isn't being met with our traditional energy sources," said Peter Faricy, SunPower CEO. "With our strategic growth plan, investment in world-class customer experience and robust pipeline, SunPower is well positioned to capture the strong resulting demand for solar and storage. This quarter we added a record number of customers, including an all-time high for new homes installs, and accumulated a backlog that we expect to set us up for high growth in the second half of the year."

 

SunPower Corporation’s earnings beat estimates as it increased 4.9% since its earnings release on Aug 2, 2022. The company reported second-quarter 2022 adjusted earnings of 3 cents per share. The bottom line marked a deterioration from the year-ago quarter’s earnings of 7 cents per share.

 

The Zacks Consensus Estimate for second-quarter earnings was a penny. Excluding one-time adjustments, the company reported a GAAP loss of 24 cents per share against the prior-year quarter’s earnings of 46 cents per share.

 

SinglePoint, Inc. (OTCQB: SING), an acquisition-focused solar energy and sustainable solutions provider, recently announced the acquisition of Frontline Power Solutions, a Multi-State Licensed Energy Services Company (ESCO).

 

Frontline Power Solutions (FPS) is a comprehensive energy service Company with the ability to operate in deregulated markets across the country. Frontline Power is licensed in nine (9) states and has applied for and is awaiting final approval in twelve (12) additional states. Frontline provides Energy Supply Agreements to all sizes of commercial, industrial, and institutional properties. In addition to supplying direct agreements, FPS also lends its expertise to its clients to help reduce energy consumption, streamline energy portfolios, and offer other options to lower energy costs.

 

The strategic acquisition provides SinglePoint with access to an extensive portfolio of clients while giving those FPS clients reciprocal access to one of the nation's leading solar power solutions companies and best-in-class customer service.

 

Wil Ralston, CEO of SinglePoint said, "Frontline Power Solutions is a great addition to SinglePoint. Frontline will round out our service offerings by providing tremendous opportunities in the deregulated energy markets. Through Energy Service Agreements or assistance with installing a client's solar system, SinglePoint can now assist thousands of commercial clients in their solar transition."

 

John Holmes, Founder & CEO of FPS said, "Our focus has been supplying commercial energy contracts to large and small commercial, industrial, institutional, and property management firms. We facilitate substantial reductions in energy consumption and spending while streamlining logistical management of their energy portfolios. By joining SinglePoint, our two companies benefit from economies of scale and monetizing opportunities more efficiently and quickly."

 

The FPS purchase is just the latest in SinglePoint's acquisition strategy, bringing a growing collection of solar providers and energy solutions under one corporate umbrella. SinglePoint has acquired six (6) subsidiaries, including EnergyWyze, BOX Pure Air, Direct Solar America, Ecodaptive, Boston Solar, and Frontline Power Solutions.

 

There are currently 26 US states that offer deregulated power options which are expected to reach $9 Billion in annual industry revenues.

 

This follows the company’s earlier announcement that its subsidiary, The Boston Solar Company LLC, expects to see substantial increases in residential solar energy projects due to the Inflation Reduction Act which passed on Sunday, August 7, 2022. The climate change and tax package passed by the Senate on Sunday will provide $370 billion in funding for clean energy, including extending and increasing lucrative tax credits for solar energy, enabling residential homeowners to claim up to 30% of the value of a solar project as a tax credit.

 

The legislation provides a 30% tax credit for installing residential solar panels until December 31, 2034. The tax credit would decline to 26% for solar panels put into service after December 31, 2032, and before January1, 2034. Additionally, homeowners installing solar battery systems with at least three kilowatt-hours of capacity qualify for the tax credit. The 30% credit will be retroactive to anyone who installed their system from the beginning of 2022. The tax credit also applies to energy storage, whether it is co-located or installed as standalone energy storage. This enables consumers to retrofit an array of batteries with a wide range of solar infrastructure, significantly increasing immediate revenue opportunities for SinglePoint through its majority-owned subsidiary, Boston Solar.

 

Wil Ralston, CEO of SinglePoint said. "SinglePoint is capable of exponentially increasing revenue due to this legislation passing. We will benefit from the largest clean energy act passed in the US in ways we haven't even thought of yet. Tax credits for solar projects have always been crucial in a property owner's decision to install solar panels."

 

Ralston continued, "In addition to the increase in demand and EV subsidies, the extension of tax credits provides additional benefits for the buyer and increases the potential market for solar energy projects because it increases affordability. Without question, this is huge for green living everywhere."

 

Corey Lambrecht, President and Chief Financial Officer of SinglePoint remarked, "With federal government support in the form of tax credits for solar energy projects and direct federal funding of air purification projects in schools, SinglePoint is poised to benefit from more contracts going forward."

 

Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, announced its 2022 second quarter results with the quarterly shareholder letter posted at https://www.ir.plugpower.com/Q222Plug.

 

In a recent article from MarketWatch “shares of Plug Power Inc. pulled a U-turn to trade sharply higher Wednesday, as investors and analysts appeared to embrace the hydrogen and fuel cell company’s glowing praise of the Inflation Reduction Act (IRA), over the company’s disappointing second-quarter results.”

 

Plug Chief Executive Andrew Marsh said on a post-earnings conference call with analysts that the IRA provides a “trifecta effect,” as it’s good for the climate, for jobs and for national security. And it’s great for the company.

“With the passage of the Act, we expect a boom for our electrolyzer and green hydrogen business,” Marsh said, according to a FactSet transcript. “All applications that use gray hydrogen [produced from fossil fuels] today, such as fertilizer manufacturing, will now be able to buy green hydrogen at a competitive price with gray.”

The Inflation Reduction Act is expected to pass through the House in short order which we can expect will embolden investors as well the companies themselves, in regards to growth and acquisitions, even as the economy maintains a recession. While there has been a dark shadow cast on the stock market over the past seven months we are starting to see a ray of sunshine for solar, wind and renewable energies. 

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