New Legislation Fuels Renewable Energy Growth
The historic passage of the Inflation Reduction Act by the Senate marks a major milestone for the renewable energy industry. After a decade of hard work from advocates across the country we saw the passage of the most substantial federal legislation supporting clean energy in history. The timing of the legislation was critical as advocates and investors saw potential financial obstacles for the renewable energy sector without its passage. As we emerge from the pandemic and face a possible inflation it is essential that we maintain our investment in sustainable energy.
“Blue Sky Utility is excited from the prospects presented by the Inflation Reduction Act. It’s a significant validation of the important work we do at Blue Sky Utility, to bring clean renewable energy to the communities in which we operate. As a business it provides us a much-needed outlook that will allow us to increase investments and grow our team with quality jobs. Similarly, our clients will continue to have access to our unique low-cost renewable energy and energy resiliency solutions,” said Ran Bujanover, President of Blue Sky Utility.
Some industry insiders have called the legislation game-changing with so many provisions supporting clean energy and community solar. This includes the extension of existing tax credits, expansion of construction costs covered to receive credits, bonuses for solar projects serving low-to-moderate income communities, funding for zero-emission technology projects, and so much more. This bill is a shot in the arm to the renewable energy sector and a long-term investment in saving taxpayers’ dollars.
“The Inflation Reduction Act is exactly what our industry needed to supercharge deployment. The value distributed generation and storage bring to the community by lowering demand at the point of consumption will save the taxpayers billions in reduced utility transmissions upgrades for generations. This is a win-win for all! Blue Sky Utility is committed to our landlord and retail partners by sharing the potential upside with the focus on their ESG requirements,” added Barend Venter, CEO of Blue Sky Utility.
About Blue Sky Utility
Blue Sky Utility is a renewable energy and storage developer, based in California. The company has developed a unique business model to provide tailored renewable energy solutions to the Commercial & Industrial space with a focus on multitenant real estate. The company’s business model is characterized by scalability and uniformity. We help small business and large national brands to achieve ESGs goals in a meaningful and practical way.