Duke Energy plans to triple renewable energy generation by 2030

By the end of this decade, renewables will be a big part of Duke Energy’s production mix as the utility strives to triple the amount of renewable energy it produces from the company’s power plants and drastically reduce carbon emissions.

This information was specified today in Duke Energy 15th Sustainability Report, the company’s annual publication on environmental, social and governance (ESG) issues.

“Duke Energy has a clear line of sight to reduce our carbon emissions by at least 50% by 2030 and is making great progress towards achieving net zero carbon emissions by 2050. We are already a leader in our industry when it comes to low carbon intensity. The next decade will also be the largest ever to include thousands of megawatts of new renewable energy generation in our portfolio, ”said Katherine Neebe, Duke Energy VP of National Engagement & Strategy, Chief Sustainability Officer and President, Duke Energy Foundation.

Currently, 7% of the Duke Energy’s company’s electrical output comes from wind, solar, and hydroelectric power plants. That figure is expected to grow to 23% by 2030.

The company is pursuing its aggressive renewable energy expansion with wind and solar energy projects currently under construction in Florida, North Carolina, Oklahoma and Texas. Over the next three years, the company will also add 280 MW of pumped storage hydro capacity to its Bad Creek plant in South Carolina.

Duke Energy’s carbon-free generation is also supported by the six nuclear power plants in the Carolinas, which produced 35% of the total electrical output in 2020.

Among the other highlights in the report:

  • The company oversees the largest coal write-off in the industry and has released cut-off dates for the remaining coal-fired production units. According to a chart in the report, Duke Energy has retired 51 coal-fired units since 2010. An additional unit retired last month, bringing the total to 52.
  • For the first time, Duke Energy shares extensive data on employee diversity filed with the Equal Employment Opportunity Commission.
  • Duke Energy and its foundation donated more than $ 8 million to COVID-19 relief efforts in 2020, and more than $ 2 million was provided by the Duke Energy Foundation to social justice and racial equality organizations.
  • The company’s economic development team helped attract nearly 18,000 new jobs and $ 9.1 billion in capital investment in its service area.
  • The company’s total CO2 emissions continue to decline – by more than 40% since 2005. The company aims to reduce its CO2 emissions by at least 50% by 2030.

Today’s report continues Duke Energy’s history of transparency and sharing progress on climate change and other ESG issues.

On April 27, the company announced a new comprehensive brand for its non-regulated commercial renewable energy business: Duke Energy Sustainable Solutions.

The brand brings together products and services offered by several Duke Energy subsidiaries, including Duke Energy Renewables, REC Solar and Duke Energy One. The team will continue to use Duke Energy’s deep industrial experience to deliver the renewable energy solutions customers need and want, while enabling them to have a measurable impact, help reduce emissions and increase resilience.

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