I'm confused about two conflicting ideas: the first is that monopoles cannot emit EM radiation ([see here][1]), and the second is that an accelerating point charge does produce EM radiation ([see here][2]).
I was under the impression that point charges could not produce EM waves?
A stationary point charge certainly won't.
What is the significance of dipoles in EM radiation if point charges accelerating also produce radiation?
The potential due to a moving point charge (for simplicity in the non-relativistic limit, and in some convenient unspecified units) looks like:
$$
\phi(\vec r) = \frac{q}{|\vec r - \vec s(t)|}\;,
$$
where $\vec s(t)$ is the position of the charge as a function of time.
The multipole expansion of this potential is:
$$
\phi(\vec r) = \sum_{\ell=0}^\infty \frac{q r_\lt^\ell}{r_\gt^{(\ell + 1)}}P_\ell(\cos(\theta))\;,
$$
where $r_\lt$ is the lesser of $|\vec r|$ and $|\vec s|$, $r_\gt$ is the greater, and $\theta$ is the angle between $\vec r$ and $\vec s$.
Suppose, as an example, that the magnitude of the observation point $|\vec r|$ is always larger than $|\vec s|$. And suppose that $\vec r$ is in the $\hat z$ direction. In this case:
$$
\phi = \frac{q}{r} + \frac{qs(t)}{r^2}\cos(\theta_q(t)) + \ldots
$$
The first term is a monopole term, which is, as expected, time independent. The next term is a dipole term, and there are higher order terms indicated by the "$\ldots$".