Iowa is known to be feeding the world; however, some of the bodies in the energy industry feel that the state is capable of powering ‘much of the world’, as well.Vice president of business development at Alliant Energy, Joel Schmidt, said on Tuesday, August 10, 2021, that they had got a huge potential in their state for future investments in renewable power.
Most of these investments are anticipated to be in solar energy. NextEra has proposed a solar farm that is capable of generating 690 megawatts of power close to the location of the now-decommissioned Duane Arnold Energy Center. Alliant, in the meantime, laid out strategies last year to add solar power of around 400 megawatts by 2023. Less than 1 percent of the Madison-based energy generated from the utility in Iowa was sourced by solar resources, which was 30 percent for wind energy.
Panelists said there are certain policy restrictions although that keep the market from future development. Eagle Point Solar’s sales director, James Hoeger, said that extending state tax credits for solar power would actually help. Hoeger said that they are having enormous demand for that. It has elevated growth and persists in doing so.He further added that the tax credits have also played a vital part in offering more financially lucrative opportunities for Iowa.