Iowa Wind Power has received a $1.9 billion boost from Warren Buffet’s Berkshire group in a clear sign that the smart money is on renewables

Iowa Governor Terry Branstad went out on a limb last year, bucking his party and his candidate to lobby with Democrats for extending a key federal tax credit for wind power. The credit was extended after a pitched battle in Congress, and Branstad’s gamble has just paid off in spades with the announcement of a $1.9 billion investment in new Iowa wind farms by MidAmerican Energy Company, which comes under the corporate family of wind power fan and legendary investor Warren Buffet. So, who’s the big loser here?Iowa wind power by Theodore Scott.Iowa Wind Power Cheaper Than Other FuelsWhen MidAmerican announced the new investment, it gave full credit to the extension of the production tax credit for enabling it to expand its wind generating capacity.