The Inflation Reduction Act (IRA) has several provisions that help electric cooperatives bring affordable clean energy to rural communities. There is a $9.7 billion fund for cooperatives to purchase clean energy and zero-emissions systems. Federal funding could help co-ops secure enough wind, solar, and battery resources to retire their entire coal capacity by 2032, cutting carbon emissions by 80 to 90 percent, improving local health and reducing wholesale electricity costs by 10 to 20 percent compared to 2021 levels.
Just announced was $7.3 billion in financing for 16 rural co-ops serving about 5 million households across 23 states. USDA awarded nearly $573 million to Dairyland Power Cooperative, which serves 24 distribution cooperatives and 27 municipal utilities, and around 280,000 farms, residences, and businesses in Wisconsin, Illinois, Iowa, and Minnesota. Dairyland will use the funding to back a total investment of $2.1 billion to build and contract for 1,080 megawatts of clean power across its service territory. Renewable energy then will account for about half of Dairyland’s generating capacity by 2031, up from 24 percent today. Canary Media
Co-ops collectively serve 92 percent of US counties designated as being in persistent poverty. The share of co-op households with annual income under $35k in WI is 26-30 percent. For more information about rural cooperatives see National Rural Electric Cooperative Association Facts & Figures 101.