WASHINGTON--(BUSINESS WIRE)--Feb. 13, 2009--
Mike Splinter, President and CEO of Applied Materials, Inc., applauded
Congressional passage of the economic recovery act conference report.
“This bill does a lot for solar, and will create thousands of ‘green’
jobs just when we need them most,” said Splinter. “The manufacturing
credit is a huge step forward to put Americans to work making solar
panels so we all can benefit from clean, affordable renewable energy. I
want to particularly thank Senator Jeff Bingaman for his leadership on
this issue, as well Rep. Mike Thompson, Chairmen Baucus and Rangel, and
the House and Senate leaders.”
The conference report to H.R. 1, the American Recovery and Reinvestment
Act of 2009 includes several important provisions for Applied Materials
and solar energy deployment. The bill will create a new, 30% tax credit
for facilities and equipment engaged in the manufacture of renewable
energy-generating property, such as solar panels. It also creates a
grant program to allow taxpayers to redeem solar investment tax credits
which are unusable to the holder because they do not have sufficient tax
liability to offset. Also included is a temporary loan guarantee program
for renewable energy projects and repeal of the tax penalty for
subsidized energy financing. The other tax provisions are key components
to realize the potential that Congress intended when it enacted a
long-term extension of the solar investment tax credit last year.
Applied Materials, Inc. (Nasdaq:AMAT) is the global leader in
Nanomanufacturing Technology™ solutions with a broad portfolio of
innovative equipment, service and software products for the fabrication
of semiconductor chips, flat panel displays, solar photovoltaic cells,
flexible electronics and energy efficient glass. At Applied Materials,
we apply Nanomanufacturing Technology to improve the way people live.
Learn more at www.appliedmaterials.com.
Source: Applied Materials, Inc.
Applied Materials, Inc.
David Miller, 408-563-9582
(editorial/media)
