Rising fossil fuel prices
Cold winter weather brings snow, ice and dropping temperatures—and often, rising fossil fuel prices. That makes it the perfect time to remember why the transition to renewable energy is so important. While prices on fossil fuels are on the rise, costs for renewable energy continue to fall.
Renewable energy can help
According to recent research by the International Renewable Energy Agency (IRENA), the drastic cost reduction for renewable power generation over the past decade is due to steadily improving technologies, economies of scale and improving developer experience. Costs for electricity from utility-scale solar photovoltaics fell 85% between 2010 and 2020. Additionally, many new‐build renewable energy projects now top the list of cheapest energy options, even when compared to their low‐cost coal‐based counterparts.
These cost trends mean the transition to renewable energy is more important than ever. Adopting smart climate policies and accelerating the clean energy transition can reduce energy costs and contribute to a diverse energy grid—one that’s less affected by fluctuating fossil fuel prices and availability.
Resiliency and reliability
In addition to being more cost-effective energy solutions, renewable energy sources contribute to a stronger energy grid. Renewables help create more grid flexibility, or the ability to respond to system changes quickly. They provide additional power sources that can keep energy flowing even when other parts of the grid aren’t performing. That means fewer power interruptions and more reliable energy service all year round.
What we’re doing
While Alliant Energy continues to monitor the global energy supply-and-demand imbalance driving the unprecedented natural gas and energy price fluctuations, we’re also working towards a future that’s less reliant on fossil fuels. As part of our Clean Energy Blueprint, we’re accelerating our transition to more cost-effective renewable energy in order to reduce energy costs for our customers.
Solar energy is clean, renewable and here to stay. What’s more, solar energy is simpler and less expensive to operate and maintain than traditional coal-powered generation. This translates to long-term economic value for customers and the communities we serve. We’re dedicated to providing several solar energy access options to meet our customers’ individual needs.
Homegrown, clean and low-cost, wind is well-established in the Midwest. We operate and purchase power from wind farms across Iowa, Wisconsin and Minnesota. These wind farm investments provide a variety of revenue streams to local communities and also create well-paying construction jobs.
For nearly a century, we’ve been delivering customers electricity from our hydroelectric dams. We also have purchased power agreements with other hydroelectric facilities across Wisconsin and Iowa, many of which we previously owned, that add to our renewable energy mix.
A smart investment
We understand the energy we generate must remain affordable, safe and reliable. Through our Clean Energy Blueprint and continued partnerships with customers, communities, regulators and stakeholders, we can provide cleaner, more cost-effective energy to those we serve.