Alliant Energy aims to move into Wisconsin wind energy marketAugust 5, 2016
Energy company is considering investing in the Wisconsin wind energy market
Alliant Energy is currently considering investing in Wisconsin’s wind energy space. The company recently invested $1 billion into Iowa’s wind energy market and its intentions to invest in other markets are showing no signs of slowing down. Wisconsin could have significant wind energy potential, which is why Alliant is showing interest in the state. The company has plans to increase wind energy purchases and investments in the state, which is believes will bring economic benefits to Wisconsin.
Wisconsin’s wind energy space is growing relatively slowly
Currently, Wisconsin has 648 megawatts of wind energy capacity. The state has been slow to invest in wind power, but is showing more interest in this form of clean energy as it becomes more environmentally friendly. Wind resources in Wisconsin are relatively modest, which is why the wind energy market has grown relatively slowly. Despite this, Alliant sees promise in the state’s wind energy market and intends to help develop or purchase wind arms in the state.
Alliant is focusing more heavily on renewable energy
Expanding into Wisconsin’s wind energy market is part of the company’s overarching plan to embrace renewable energy more aggressively. Wind and natural gas have become priorities for the company in recent years. Alliant hopes to reduce its reliance on fossil-fuels, becoming more environmentally friendly. Many energy companies are beginning to face increasing pressure to embrace renewable energy. These companies are slowly moving away from fossil-fuels. Reliance on fossil-fuels will likely remain strong for several years into the future.
Production Tax Credit continues helping the wind energy market grow
The wind energy market is expected to experience strong growth in the United States, at least while the Production Tax Credit remains in place. This federal initiative provides financial support for wind projects under development. This initiative was allowed to expire at one point, which lead to a significant decrease in investments in the wind energy market. With wind power growing more popular, federal law makers may be encouraged to continue renewing the Production Tax Credit.