Lisa M. Barton
Chief Operating Officer at Alliant Energy
Thank you, John. One of the areas that drew me to Alliant Energy revolves around our unwavering commitment to delivering value in a holistic and sustainable manner and our dedication to ESG principles. We are resolute in our long-term commitment to consistent growth in ensuring a successful clean-energy transition for our customers and communities. Making a positive difference in the lives of our customers and communities is a core value and guides us as we navigate the evolving energy landscape.
We recently released our 2023 Corporate Responsibility Report showcasing our commitment to environmental stewardship, meeting the social needs of our communities in corporate governance with a diverse portfolio of generating facilities we consistently provide reliable energy to our valued customers, while continuing to broaden their access to zero fuel cost and carbon-free energy resources. As we advance our clean-energy initiatives we prioritize competitive rates, reliability, system resiliency, sustainability, and innovation. We partner and invest in organizations, which proactively advance our industry's knowledge and collaborate on best practices.
Now let's review our great environmental progress from 2022. First-off, 40% of the energy we supplied to our retail customers in 2022 was from renewable sources. Second, we reduced our annual carbon dioxide emissions from fossil fuel generation by 39% from our 2005 levels. Evidence that we are well on our way to achieving our goal of 50% CO2 reduction by 2030. We reduced our water usage by 50% from our 2005 levels, demonstrating our progress towards our 75% reduction goal by 2030. Looking forward, we have updated our clean energy goals to reflect our company's progress and strategic plans to support the transition to a low carbon economy.
On Slide three we highlighted examples of our sustainability efforts. Over the years we have made significant strides in reducing our carbon footprint by transitioning from older, less-efficient coal units to cost-effective and efficient generation resources such as wind, natural gas, battery storage, and solar. These resources not only demonstrate our commitment to environmental sustainability but also serve as lower-cost options for our service territory, providing value for our customers well into the future. Building upon our successful wind energy expansion our strong project management execution capabilities, we are focusing on expanding our solar energy portfolio.
With our substantial investments totaling 1.1 gigawatts of solar projects, we are set to become the largest owner-operator of solar energy in Wisconsin. In 2022, we successfully placed 250 MW of solar capacity into service and we are on schedule to add an additional 840 MW by mid-2024. Our investments are helping customers focus on their sustainability objectives in the communities we serve. With our customer hosted renewables projects we partner with businesses or communities to host an Alliant Energy solar farm on-site.
Two examples are with the Iowa State University and the University of Wisconsin Madison. In partnership with Iowa State we are also investing in [indecipherable] the study of crop or livestock production underneath or adjacent to solar panels. Through our Community Solar program we created community-funded solar sites, bringing the cost synergies of large-scale solar and offering customers an alternative to rooftop installations. Our Clean Energy Blueprint services are roadmap towards a cleaner energy future. This Blueprint encompasses not only generation but emphasizes the importance of an efficient, reliable, and resilient energy grid.
John mentioned our focus on resiliency by undergrounding our distribution system. Undergrounding distribution lines, allows us to reduce the resources needed to trim trees, improves reliability, and reduces the cost and customer inconvenience associated with storm response. Through our innovative solutions and strategic investments we continuously strive to deliver sustainable energy options without compromising customer satisfaction. An example of this is our investment in the Nina[phonetic] and Sheboygan Falls gas plants, where our advanced gas half upgrades will increase the efficiency, capacity, and reliability of these units.
Finally, in Iowa I am pleased to report, we reached a settlement with the Office of Consumer Advocate regarding our Iowa rate-making principles docket. Settlement details are provided on slide five, the hearing on the advanced rate-making principles for these projects was completed earlier this week. We requested an expedited decision from the Iowa Utilities Board, so that we can start construction on these cost-effective investments for our Iowa customers. These investments will create jobs in Iowa during construction, support reliability of electric service in our Iowa service territory bring shared revenues to our local communities and lease payments to rural landowners, all of which aligns with our purpose to serve customers and build stronger communities.
I will now pass the mic to Robert, who will share our financial results and provide additional detail on our regulatory progress. Robert?
