Dear Friends of the MREA,
I hope this letter and our annual report find you well. The last year has had its ups and downs for the MREA. I’m guessing you understand and likely share the experience.
Working in the clean energy space, we are used to the “solar coaster” effect, but that doesn’t mean we enjoy it. We have always worked to help the ride land at a more stable and inclusive market with the opportunity for all to benefit from the transition to a more local and renewable energy system.
With recent federal legislation, most notably the Inflation Reduction Act and ambitious legislative successes in Illinois, Michigan, and Minnesota, the midwestern U.S. has the promise to install as much clean energy capacity as any place in the world over the next 10 years. As this is occurring, we also face some real headwinds. The federal stim- ulus is in the planning stages while inflation, increasing interest rates, supply chain issues, labor shortages, domestic political polarization, and global economic and security tensions are stalling consumer demand and challenging existing investments.
Understanding these market conditions and the fundamental need for professional training and public education to make good on our current opportunity, the MREA chose to invest in our programs this last fiscal year. We launched a new learning management system to improve our training. We purchased a training van to support our off-site training. We invested in an event management software to improve The Energy Fair experience. And we updated our personal and business memberships to make them more accessible and affordable.
As you’ll see in the financial summary, this resulted in a net loss for the fiscal year. We budgeted for the loss, but we also recognize the need to make good on these investments and improve our financial position in the coming years.
You are the secret to our success. At the MREA, we are fortunate to provide market-relevant services that support our programs. We are also fortunate to have you as members, donors, and sponsors. Your support will ensure we can meet this moment, making the Midwest a global leader in the energy transition.
Nick Hylla, Executive Director
Help make the most of this historic opportunity in 2024! Support solar solutions by making a tax-deductible gift to the MREA today: