Why is Clean Energy good for Iowa’s Businesses?
Reduces energy costs.
More and more customers expect it and a growing number of markets require it.
Young workers prefer working for companies that are sustainable.
Iowa produces it!
Reducing Energy Costs
A November 2019 study by energy consultancy firm Lazard highlighted that the unsubsidized cost of utility-scale solar and wind energy generation is now as cost competitive, and at times lower, than gas generated energy and much lower than coal generation. As the reliability of clean energy continues to increase through storage and improved transmission infrastructure, energy policies that enable and encourage greater clean energy adoption will help keep Iowa’s energy prices competitive.
Appealing to Customers and Accessing Markets
But low prices is not all that is driving greater clean energy adoption. An ever increasing percentage of advertisements highlight the company’s commitment to sustainability. And for good reason - the emerging consumers want to do business with companies that share their values. From jurisdictions like California to companies like Walmart - more and more markets require investments in clean energy to access their markets. Clean energy is a critical tool for Iowa’s manufacturing and supply chain industries to be globally competitive as they try to meet supplier scorecard standards.
Customers and Prospective Employees Are Demanding Sustainable Business Practices . . .
Attracting Tomorrow’s Workforce, Driving Innovation and Efficiency
And it is not just customers and access to markets driving behavior - but sustainability and a commitment to clean energy are often required attributes to attract the best and brightest young talent. And studies are showing that a commitment to sustainability can drive innovation and increased profitability, as companies become more efficient.
Biogesters on the Sievers Family Farm, which helps provide electricity to the grid.
Iowa Generated Electricity!
And for Iowa - the choice is simple - the use of natural gas and coal to generate electricity means dollars leaving the state. Wind and biofuels have already added tremendous value to Iowa’s economy - especially in rural Iowa. While solar is just in its infancy, over 100 Iowa businesses are already in the solar energy supply chain, employing over 800 Iowans. Wind, biofuels and solar all have tremendous upside potential as they continue to emerge as cheaper electric generating sources.
The Bottom Line: Energy policies that incentivize greater use of clean energy, increased energy efficiency and overall improved sustainability will help make Iowa business competitive with the world.