Energy giant announces multi-billion-dollar strategy shift — here's what's happening

An energy company in the Midwest is making a major investment in renewable energy.

WEC Energy Group, which serves around six million customers across Wisconsin, Michigan, Minnesota, and Illinois, has announced plans to dedicate $9.1 billion to regulated renewable projects. That's 32% of the company's total $28 billion investment from 2025 to 2029.

This most recent investment reinforces the company's commitment to eliminating coal as an energy source by the end of 2032. The plan is to rely on solar, wind, and battery technology. The company has a track record of preparing its customers for renewable energy, having already retired facilities and equipment that once produced 2,500 megawatts of energy across Wisconsin.

WEC Energy Group's stock prices are on the rise after this announcement. In the past six months, the company's stock has shot up 10.1% compared to the 5.4% growth of the industry at large. 

Now is the time for consumers to invest in renewable energy, just as it is for large companies. In June, Net Zero Investor reported that analysts are seeing a "buyer's market" in the clean energy sector. Experts are seeing trends indicating that sustainable stocks are becoming increasingly mainstream.

Still, many Americans are nervous to invest in clean energy, often citing market volatility and lack of options. Meanwhile, top Fortune 100 and 500 companies are taking the leap, investing nearly $80 billion in renewable energy projects in 2024. Experts agree that while the market sees ups and downs, the long-term momentum of the clean energy industry is good.

WEC Energy Group is taking the plunge into renewable energy, making sure Midwestern Americans are using the utilities of the future. The company is also ushering investors into a new era, one marked by making money off projects that create a cleaner planet for everyone.

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