Applied CFO: America can be the Global Leader in Renewables

Applied Materials’ chief financial officer, George Davis, met with Sens. Kerry (D-MA) and Lieberman (I-CT) today to discuss what is required to address the world’s energy and environmental challenges. Legislation such as the American Power Act is a step in the right direction, and, when added to other legislative action, will bring this country closer to regaining our position as a leader in the global clean energy technology industry.

During the meeting, George outlined four key policies that should be implemented in order for America to remain competitive in the clean energy race:

1. Price and/or cap on carbon to drive demand for renewables.

2. A Renewable Electricity Standard with teeth: 25% by 2025.

3. Government incentives such as low-cost financing for renewable project deployment and a permanent Manufacturing Tax Credit/Investment Tax Credit.

4. Increased federal procurement of renewable energy. The government is the largest consumer of energy in the U.S. at 250 gigawatts a year.

We look forward to the national adoption of these policies that will make the U.S. not only a leader in clean technology, but also get us one step closer to true energy independence.