Cedar Rapids Community Solar field from the air

Sold out! Alliant Energy’s Cedar Rapids Community Solar garden now fully subscribed

First Interstate Bank, City of Cedar Rapids join Transamerica and Aegon Asset Management as anchor tenants

CEDAR RAPIDS, Iowa (Sept. 19, 2023) – Subscribers have purchased all 18,000 blocks that make up the Alliant Energy® Cedar Rapids Community Solar garden.

“This milestone demonstrates the interest our customers have in directly participating in solar energy projects,” said May Farlinger, Alliant Energy’s vice president of customer and community engagement. “Projects like the Cedar Rapids Community Solar garden showcase the reliability and affordability benefits of clean energy while delivering on our purpose to serve customers and build stronger communities.”

Once Alliant Energy places the Cedar Rapids Community Solar Garden into operation in early 2024, subscribers will receive monthly credits on their electric bill for the 20-year life of the project.

Transamerica and Aegon Asset Management purchased 60% of the garden’s solar blocks as the project’s first anchor tenants. Recently, First Interstate Bank purchased 15% of the solar blocks available, and the City of Cedar Rapids subscribed to 5% before the garden became fully subscribed.

“We appreciate the community’s support and the partnership with our anchor tenants as we continue on the path to deliver cost-effective renewable energy to our customers,” said Farlinger.

First Interstate Bank saw its investment in the solar garden as twofold.

“We’ve been searching for impactful ways to increase our sustainability efforts while continuing to demonstrate our commitment to the communities we serve,” said Kevin P. Riley, president and CEO of First Interstate BancSystem, Inc. “Participating as an anchor tenant in the Alliant Energy Cedar Rapids Community Solar garden helps us achieve both these goals.”

The City of Cedar Rapids approved the purchase of 900 blocks because of the progress it means for sustainability efforts.

“This project illustrates the City’s ongoing commitment to leadership in sustainable practices,” said City Manager Jeff Pomeranz. “Beyond solar panels, the community solar garden represents another step in achieving the ambitious goals of our Community Climate Action Plan.”

“Our council-adopted Community Climate Action Plan aims to increase use of renewable energy to 70–100% by 2050. As an anchor tenant for this project, we take pride in the positive impact of the clean energy production that will benefit not only the City, but our entire community,” said Sustainability Program Manager Sara Maples.

Alliant Energy also donated over $250,000 in solar blocks to the Cedar Valley Habitat for Humanity. Over the 20-year life of the project, Alliant Energy expects to issue over $500,000 in bill credits to Habitat for Humanity’s participating residents.

The Cedar Rapids-based garden is part of the Alliant Energy® Community Solar program, which allows the company’s electric customers to benefit from solar power without installing solar panels on their property.

The garden is located north of the 1100 block of 33rd Avenue SW on Alliant Energy-owned property. Last summer, Alliant Energy began construction on the project that at maximum capacity has the ability to power approximately 3,600 homes annually.

Alliant Energy encourages its interested Iowa electric customers to join a waitlist for notification if solar blocks become available or the company launches another project in the state. There is no obligation to purchase blocks by joining the waitlist.

This is the second community solar garden to become fully subscribed across Alliant Energy’s service territory. The first, in Fond du Lac, Wisconsin, became operational in late 2021. A third project, in Janesville, Wisconsin, is currently in development.

The Cedar Rapids Community Solar garden is an important milestone in Alliant Energy’s Clean Energy Blueprint, the company’s roadmap to accelerate its transition to renewable energy. It puts the company on a path to achieve its Clean Energy Vision, which includes a goal to attain net-zero greenhouse gas emissions from its utility operations by 2050.

About Alliant Energy

Alliant Energy Corporation (NASDAQ: LNT) provides regulated energy service to 995,000 electric and 425,000 natural gas customers across Iowa and Wisconsin. Alliant Energy's mission is to deliver energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL) are Alliant Energy's two public energy companies. Alliant Energy is a component of the Nasdaq CRD Sustainability Index, Bloomberg’s Gender-Equality Index, and the S&P 500. For more information, visit alliantenergy.com and follow Alliant Energy on LinkedIn, FacebookInstagram and X.

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