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Clean energy provisions in Inflation Reduction Act

As we work toward a clean energy future for the communities we serve, we are encouraged by the new opportunities to enhance the value of our Clean Energy Blueprint as a result of the federal Inflation Reduction Act (IRA).

Certain clean energy provisions including tax credit transferability, production tax credit eligibility for solar projects and stand-alone tax credits for energy storage provide us even more pathways to bring clean and affordable energy to our customers.

We’re taking steps to adjust our financing plans to increase the benefits our customers will see from our solar projects. We continue to evaluate potential opportunities created by the IRA as we deliver on our mission to serve customers and build stronger communities.

Iowa Clean Energy update
We announced our Iowa Clean Energy Blueprint in 2020 after a year-long process of engagement with stakeholders and a thorough evaluation of multiple energy portfolio options and future scenarios for our customers. Overall, we received positive feedback and support for our plans to cost-effectively add 400 megawatts (MW) of solar and 75 MW of battery storage in Iowa.

The Iowa Utilities Board (IUB) recently required additional analysis on alternate sources of electric supply for our customers before they can grant ratemaking principles. We will continue to work with the IUB, customers, communities and other stakeholders on our plans.

Wisconsin Clean Energy update
In Wisconsin, we completed three utility-scale solar projects totaling 250 MW this year – positioning us as the largest owner-operator of solar generation in Wisconsin. We have nine additional utility-scale solar projects currently under construction and we recently announced plans to add 175 MW of battery storage capacity in Wisconsin. Thank you for the continued community support of these projects.

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