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Financing the Midwest Energy Transition

26 Nov 2010 2:10 PM | Anonymous
Who will lead the Midwest’s transition to renewable energy?  While competition increases between the states surrounding the Great Lakes, a recent event in Cleveland focused on the power of collaboration.  “Financing the Midwest Energy Transition”, held by the Chicago Council on Global Affairs and NorTech on October 18th, examined the region’s potential to be the global leader in the energy economy, as well as the costly effects this transition may have.

Richard T. Stuebi, President of NextWave Energy, wrapped up the event with his remarks.  His strong belief in the Midwest as an advanced energy leader is driven by four considerations; diversification, environmental and economic (emphasized twice).  His stress placed on the economic opportunities of this region also leads into the economic support needed to make this shift a reality.

This capital required is not going to come from one city or one state.  Stuebi underlines, “We in the Midwest can’t succeed as independent islands.”  As a region, the Midwest can succeed through leveraging important financial institutions and corporate giants.  With proper funding, the plethora of universities and research facilities can make energy-related studies a priority.  Additionally, the Midwest needs venture capital funding from within and outside the region to support local innovation.    With all of these initiatives in place, and with support through government policies, the Midwest can prosper as the leading region in renewable energy.



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