Between 2017 and 2021, global renewable energy production jumped nearly 40%, from 2,195 gigawatts to 3,064 GW. When the numbers are tallied for 2022, it is expected to have grown another 8% despite supply chain and inflation concerns halting some projects. Alliant Energy is one of many organizations around the globe that are on journeys to generate and use cleaner energy.
We proudly contributed to the growth by placing more than 250 MW of solar online in 2022. And we will be part of the future growth, too, with plans to place up to 800 MW of additional solar into operation in 2023 as outlined in our Clean Energy Blueprint.
As we look toward the future, a Deloitte outlook for 2023 shows optimism for additional clean energy development because of larger demand and the incentives included in the 2022 Inflation Reduction Act. The Deloitte report also cautions about supply chain constraints, interconnection limitations, rising prices and transmission shortcomings as challenges developers will need to overcome.
However, that’s not slowing long-term outlooks for clean energy. McKinsey estimates that 60% of the world’s power will come from renewables by 2035. Alliant Energy is on a similar path, with clean energy estimated to generate roughly 55% of our energy portfolio by 2030.
With a growing renewable energy market, here are a few additional factors for the interest in the Midwest:
- Expansion to the Midwest. Renewable developers from all over the country have focused on creating projects in the Midwest because of the opportunities available and recent growth.
- Economies of scale. Large-scale renewable energy projects utilize economies of scale for purchasing, installing and connecting renewable energy to the grid, which makes it more cost-effective and efficient than many smaller projects.
- Agile planning. With advances in solar panel technology, it’s becoming more viable to install panels in more places, whether it’s on customer roofs, small parcels of land or large-scale projects.
You can stay updated on our progress toward renewable growth by signing up to receive quarterly construction newsletters and checking out our Clean Energy Future blog for stories on how we’re progressing on our Clean Energy Blueprint.