Sec. Granholm highlights clean energy projects in NC
RALEIGH, N.C. (WNCN) – U.S. Energy Sec. Jennifer Granholm traveled to Raleigh Friday to announce that Siemens Energy is among dozens of companies receiving tax credits under the Inflation Reduction Act as the company expands its presence in North Carolina.
The Department of Energy released details of 35 projects in 20 states that qualified for the credits to do different kinds of work to advance clean energy.
Siemens Energy recently announced a plan to add more than 500 additional jobs in Wake County and Charlotte. About 475 of those jobs will be in the Queen City, where Siemens Energy will produce large power transformers in 2026.
The company says that will help to modernize and expand the electrical grid, especially in light of renewables and growing data centers to support AI.
“But, really what it is, is investing in manufacturing in America, bringing jobs back to America after we have seen them leave,” said Granholm.
The secretary’s visit to this important 2024 battleground state came the day before former President Donald Trump was set to hold a rally in Wilmington.
President Biden signed the Inflation Reduction Act in 2022, which passed Congress on a party-line vote. Republicans objected to some measures of the law and have sought to repeal them, describing some of the incentives as “green special interest tax breaks.”
The inflation rate has dropped since peaking above 9% in 2022 but remains elevated. The most recent Consumer Price Index report earlier this month showed inflation increased in March. The year-over-year inflation rate was 3.5%, which is still above the Fed’s 2% target.
Sec. Granholm acknowledged that many people still don’t “feel” the impacts of efforts to reduce inflation.
“What will follow is the job creation as a result of the actual expansion of the manufacturing facilities. So, we’ve planted all the seeds. The sprouts are starting. And, pretty soon there’s just gonna be a forest of jobs all over the place,” she said.
She pointed to other efforts by the administration to reduce inflation, including provisions in the IRA the lower drug costs and cap out-of-pocket costs for seniors, as well as the push to eliminate so-called “junk fees.”
Gov. Roy Cooper (D) said the IRA is “the biggest” law passed to address climate change.
“Our country needs to be a leader. North Carolina needs to be a leader. And, what we’re finding out is not only is it the right thing to do to fight climate change, but it’s putting money in the pockets of families,” he said.
Rich Voorberg, President of Siemens Energy, said there’s a national shortage of power transformers, and the project is key to address growing demand on the grid.
“We’re reinvesting here in Raleigh. We’re reinvesting in Charlotte,” he said.
Voorberg also highlighted some of the company’s efforts around diversity and inclusion. Following that, Gov. Cooper made reference to the decision earlier this week by a committee of UNC’s Board of Governors to repeal its existing DEI policy.
“University leaders, state and federal leaders across this country should take note of that, that it makes you better, makes you more profitable, increases the bottom line,” Cooper said.
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