Iowa Energy Fund — spread the news

It was great to read last week in The Gazette (“New Iowa group launches to help fund renewable energy projects,” Sept. 26) about the new, nonprofit Iowa Energy Fund (IEF) for energy efficiency and renewability projects. This is a much-needed resource for environmental stewardship and a boost for our people, communities, nonprofits, small businesses, and lenders.

This hub will help many ordinary citizens use Inflation Reduction Act (IRA) funds for startups to make solar energy and other efficient technologies available to more people, make renewable agriculture dreams come true, and boost other citizen initiatives like affordable housing, neighborhood solar, and community watershed improvements.

Partnerships with low-income people and those who work with them will address both housing and climate issues with affordable, low-carbon housing.

The IEF is part of U.S. Green Bank 50, a recently formed network of green banks around the country, which is already successfully working in nearly every state, plus DC and Puerto Rico. The goal is to use $27 billion in IRA moneys, plus more, to create jobs, boost local economies, address climate change and make clean energy accessible to all Americans.

Examples abound of best, replicable practices as a result of green bank funding around the country. Projects include solar panels and storage in affordable housing complexes, electrified school buses, clean energy manufacturing, school and community energy retrofits, rural EV charging stations, and financing for solar, heat pumps and whole home electrification for low- and moderate-income families.

Kudos to those from various sectors all over the state who have been part of forming this Iowa fund. This includes folks from neighborhood and community development organizations, energy efficiency groups, plus banks and credit unions.

The IEF will match up projects with vendors such as architects, engineers, solar installers and other energy efficiency providers. They will coordinate between neighborhood and community organizations and financing partners. And they will be connecting Iowa-based funders, developers, nonprofit organizations and vendors to make these projects easier to plan and finance.

As we move more and more to renewable energy generation and carbon-efficient buildings, the IEF will bring more private and public resources to complete these projects and to improve our air and water. The resulting connections will be a win for affordable housing and its residents, underserved communities, homes, businesses, farms, towns, schools, hospitals, and churches, as well as lenders and investors.

Topmost is the increased reduction of CO2 emissions in our state. The green banks model of facilitation takes the climate crisis seriously, and the power that we all have together to do something about it. It honors and helps to realize our collective hopes and dreams for a cleaner, safer, healthier world. And it helps eliminate the red tape that stands in the way of this realization.

The model calls for involvement of those in low and middle-income households to be part of discussions and plans to reduce carbon in the atmosphere and plans to address disparities within and between communities. Examples of this around the country include the leveraging of $12.5 million in energy credits to help take a Chicago solar project to the next level, and financing of energy efficient improvements for rural homeowners in Maine. An East St. Paul neighborhood will be able to build a geothermal energy system. An affordable senior housing facility in Columbus will be able to add solar energy.

Such bottom-up development is authentic in terms of both people and planet. It’s a good news story that bears repeating, both mouth to mouth and media-wise. Have an idea for such genuine flowering of our economy, or know someone who does? Reach out to the Iowa Energy Fund: team@iowaenergyfund.org.

Jay Gilchrist is a retired pastoral minister and health care executive who lives in Iowa City.