We calculate the expectation value of the coincident product of two field strength tensors at two loop order in scalar electrodynamics on de Sitter background. The result agrees with the stochastic formulation which we have developed in a companion paper [2] for the nonperturbative resummation of leading logarithms of the scale factor. When combined with a previous computation of scalar bilinears [1], our current result also gives the two loop stress-energy tensor for inflationary scalar electrodynamics. This shows a secular decrease in the vacuum energy which derives from the vacuum polarization induced by the inflationary production of charged scalars.
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