Dow Corning CEO Urges Congress on Green Energy Incentives

Dr. Stephanie A. Burns, Dow Corning's chairman, president and CEO, testified today before the House Ways & Means Committee at a hearing on energy tax incentives and the green job economy. The central message of her testimony was: "America’s energy transformation is inexorably linked to our nation’s economic and manufacturing future."

Dr. Burns noted that Dow Corning has announced more than $5 billion in investments in solar technology. Most of that is in capital for advanced manufacturing operations for polycrystalline silicon. It also includes other operations like research & development and materials that improve the performance and cost efficiency of solar cells and modules. Dr. Burns pointed out that these recent initiatives build on a 70-year history at Dow Corning of producing products focused on energy efficiency and sustainability.

Companies such as Dow Corning and its joint venture partners are manufacturing solar and other renewable energy-related materials here in America. This creates thousands of jobs in construction, engineering, science and skilled trades, according to Dr. Burns.

The problem is that many countries are now competing for these good jobs with tax credits and other incentives to attract green and sustainable investments. "Other nations have enacted aggressive policies to support the growth of the renewable energy industry," she said. "Companies that hope to manufacture in the United States are faced with a tax structure that encourages them to do otherwise. It is time for America to enact policies that will essentially assure this industry grows here."

Dr. Burns pointed out that recent initiatives such as the Advanced Energy Manufacturing Tax Credit included in the American Recovery and Reinvestment Act have had a very positive impact by leveraging investments from the private sector. She urged Congress to do even more to stay competitive in the global clean technology race. The tax credit was capped at $2.3 billion, and was significantly oversubscribed. According to the Department of Energy, there were many viable projects that were not funded. With that in mind, Dr. Burns asked Congress to make the tax credit permanent in any energy, climate, or jobs bill now under development. "This will help propel America into an era of sustained, renewable energy use and help put Americans back to work," she said.

Dr. Burn's complete testimony before Congress is available by clicking here.

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