The Iowa Power Fund, which was established in 2007 to spur renewable-energy production in the state, has failed to meet initial expectations, according to an Associated Press review. Of the program's $100 million budget, only $23 million was spent on projects, while almost 30% was diverted by lawmakers for other uses. But former officials of the fund are optimistic the investment eventually will pay off and help consolidate Iowa's status as a hub for renewable-energy production.

Related Summaries