Cedar Rapids, Iowa

The Iowa Energy Fund (IEF) is teaming up with the City of Cedar Rapids, Iowa, to advance a clean energy market-building initiative designed to accelerate cost-competitive deployment of capital, expand access to affordable financing, and strengthen local capacity to deliver clean energy and resilience projects. This work builds a durable framework for public-private collaboration that supports residents, businesses, and nonprofits while positioning Cedar Rapids as a model for scalable clean energy investment across Iowa.  

This partnership is actively developing a pipeline of projects prioritized for readiness, affordability, and near-term impact. Each project is supported by dedicated working groups focused on pre-development and implementation, ensuring momentum from planning through execution. Central to this effort is IEF’s close partnership with banks, credit unions, and financial institutions. IEF is collaborating with these lenders through loan participation, credit enhancements, and pooled guarantees to reduce risk, lower borrowing costs, and build long-term comfort with clean energy lending—all while also creating structures that can attract additional private capital over time.  

The City of Cedar Rapids is aligning these financing tools with existing incentives and infrastructure. The City’s green building incentives, including tax-increment financing for certified projects, provide a foundation for gap funding in new development. Public-private cost-share models are being explored for electric vehicle charging infrastructure, leveraging private parking operators and business participation. The City of Cedar Rapids and IEF is also advancing pre-development work for commercial composting and renewable natural gas opportunities at the municipal water pollution control facility, serving the region’s residents, businesses, as well as significant food and bio-processing industries. In parallel, the City is studying the potential for green hydrogen production at the facility to support municipal operations, nearby businesses, and higher-education partners.  

This initiative builds on Cedar Rapids’ leadership in streamlined solar permitting, EV readiness, and climate planning. By coordinating financing, policy alignment, contractor readiness, and project delivery, Cedar Rapids is creating a clean energy marketplace that improves affordability today while laying the groundwork for long-term resilience, innovation, and statewide replication.