Friday, November 22, 2024

Duke Energy Files Proposed Carolinas Carbon Plan to Deliver a Cleaner Energy Future for Customers

After months of stakeholder input, Duke Energy filed its proposed Carolinas Carbon Plan with the North Carolina Utilities Commission (NCUC) – a clean energy plan that balances affordability and reliability for customers.

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The proposed plan provides a path to achieve 70% carbon dioxide (CO2) emissions reduction by 2030 and carbon neutrality by 2050, while offering regulators multiple options that balance affordability and reliability for customers. Duke Energy has already retired two-thirds of its coal plants in North Carolina and South Carolina – to retire the rest by the end of 2035, the company has outlined a diverse, “all of the above” mix of solar, storage, natural gas, wind and small modular nuclear generation, as well as energy efficiency programs and other measures to help customers reduce their energy use.

The plan provides a foundation for upcoming state regulatory processes to consider. By 2035, the clean energy transition would include:

  • More than three times the current level of solar.
  • Diversification of renewables with wind resources.
  • Significant growth in energy storage – 3,700 megawatts (MW) to 5,900 MW to support renewables.
  • Initial steps to develop zero emissions load-following resources (ZELFRs) to enable coal retirements and eliminate natural gas use over time.

“We are committed to bringing our customers and communities affordable, reliable, carbon-free energy as quickly as possible,” said Stephen De May, Duke Energy‘s North Carolina president. “Customers in North Carolina and South Carolina deserve an orderly energy transition that supports communities and maintains affordable rates, while ensuring the continued reliable service and economic competitiveness on which both states depend.”

The efficiency of Duke Energy’s dual-state system improves reliability and helps keep costs as low as possible – rates in both North Carolina and South Carolina are well below the national average. The proposed plan will also be shared with the Public Service Commission of South Carolina (PSCSC) and filed in a future resource planning docket for PSCSC decision.

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