Duke Energy plans to triple its output of renewable energy by 2030
Duke Energy expects to triple the amount of renewable energy it produces by the end of this decade, according to its annual Sustainability Report, which reports on environment, social and governance (ESG) issues.
Currently, about 7 percent of Duke Energy’s electrical output comes from wind, solar and hydroelectric plants. That figure is projected to more than triple to 23 percent by 2030.
“Duke Energy has a clear line of sight to reduce our carbon emissions by at least 50% by 2030 and is making terrific progress to achieve net-zero carbon emissions by 2050. We’re already a leader in our industry when it comes to low-carbon intensity. This next decade will also be our biggest ever for incorporating thousands of megawatts of new renewable energy generation into our portfolio,” said Katherine Neebe, Duke Energy’s vice president of national engagement & strategy, chief sustainability officer, and president, Duke Energy Foundation.
The company has wind and solar projects currently under construction in Florida, North Carolina, Oklahoma, and Texas. Further, the company will add 280 megawatts of pumped storage hydro capacity at its Bad Creek facility in South Carolina over the next three years.
Also, Duke Energy’s carbon-free generation is boosted by its six nuclear plants in the Carolinas, which produced 35 percent of its total electrical output in 2020. The company’s overall carbon dioxide output is down more than 40 percent since 2005. It aims to reduce its carbon emissions by at least 50 percent by 2030.
In addition, the report disclosed the closing dates for its remaining coal-fired generating units. Duke Energy has retired 52 coal-fired units since 2010. Further, it detailed how its foundation donated more than $8 million to COVID-19 relief efforts during 2020, while more than $2 million was donated to social justice and racial equity organizations.
Finally, Duke Energy announced a new brand for its nonregulated commercial renewables business – Duke Energy Sustainable Solutions. The brand unifies products and services offered by several Duke Energy subsidiaries, including Duke Energy Renewables, REC Solar, and Duke Energy One.