A new report by The Nature Conservancy (TNC) found that as the world grapples with the urgent need to build resilience against global warming, large businesses and employers in the Midwest are scrambling to reduce their carbon footprints by setting ambitious clean energy goals. Renewable energy generation has increased in the Midwest states covered in this report, but several factors are responsible for influencing the rate of renewable energy growth.
TNC's Charting a Clean Energy Future report focuses on five Midwestern states—Illinois, Indiana, Michigan, Ohio, and Wisconsin—to provide valuable insights into critical business demand for renewable energy, the progress being made in each state, and offers useful tools for A growing number of businesses ensure that renewable energy projects meet environmental and social commitments.
Key findings show that 54% of large businesses and employers in all five states, including Fortune 500 companies, have set ambitious renewable energy goals that reflect a shared commitment to reducing greenhouse gas emissions and transitioning to clean sources energy. However, all five states have a long way to go to catch up with states at the forefront of renewable energy production, including Iowa, South Dakota, Oklahoma, Kansas and Maine, which generate 50 % or more of their electricity from wind and solar energy. . While solar and wind electricity generation has increased in all five Midwest states in this report, none generate more than one-fifth (20%) of their electricity from wind and solar.
“Rapid deployment of renewable energy is not only necessary to address global warming, but it is also necessary for large businesses and employers in the Midwest to remain competitive,” said Anna Dirkswager, the Nature Conservancy's climate director. and energy in the Midwest. “To overcome these challenges, we need a concerted effort to invest in renewable energy projects and create a holistic approach that supports both corporate goals and environmental responsibility.”
Two barriers to development are highlighted in this report, including differing local and state policies and land use concerns. These challenges lead to lost opportunities to create jobs and reduce emissions. They also block the ability to take advantage of tax incentives from the Inflation Reduction Act, which can cover up to 60-70% of the cost of a new solar or wind project.
The report Charting a Clean Energy Future calls for a holistic approach to renewable energy procurement and siting that avoids high impacts on wildlife, habitats, people or communities. Groundbreaking research from TNC shows that it is possible to avoid most impacts on sensitive natural and labor lands by following deliberate siting practices. This approach, detailed in TNC's Power of Place report, halves the amount of land required for renewable energy installations to meet the US net zero goal.
TNC has developed a number of resources that can help Midwest companies identify a way to help their organizations meet their greenhouse gas reduction goals while also considering social commitments and environmental impacts. Learn more with TNC's resources and tools, including Power of Place, Site Renewables Right and Power with Purpose, a white paper created in partnership with Rivian.
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