Federal funding for St. Peters’ solar energy developer
June 21, 2012 by James
The federal government is swiftly looking towards bright, efficient, affordable, and economically viable energy solutions for America in a global economy.
On June 12, The Department of Energy announced a $54 million backing of 13 innovative research partnerships in an attempt to make the private sector more energy efficient, including one company in St. Peters.
St. Peters is both the research and development headquarters, as well as the corporate world headquarters, of MEMC Electronic Materials, Inc., a manufacturer and seller of silicon wafers and other manufactured goods to the solar industries. As one of the selected 13 research partnerships, it will be awarded $3.68 million in funding to enlarge its operation.
According to a statement by Energy Secretary Steven Chu, these projects will also enhance the nations’ competitive position in the industry because the country will be manufacturing more while saving money, energy, and protecting the country’s water and air.
The DOE’s sources say their aim is to press the technology forward soon enough to benefit the whole economy with its profits.
The energy investment is a component of what President Obama called “a blueprint for an American economy built to last” in the January State of the Union address. The President emphasized the importance of U.S. energy and U.S. manufacturing in job growth and in reclaiming the country’s status as a global investor in clean energy.