DTE Energy releases 20-year CleanVision plan, proposing $9B of investment into Michigan over next decade
With the release of its CleanVision plan last week, DTE Energy proposed sweeping goals for Michigan’s energy network over the next 20 years, including major investments in solar and wind, sped-up retirement of coal resources, and overall investments of $9 billion over the first 10 years alone.
Overall, the plan represents the culmination of a major shift in a state that has left clean energy at the forefront of concerns for utilities. DTE plans to cut its CO2 emissions by 85 percent by 2035 and get ahead of Michigan’s own economy-wide reduction milestones. By accelerating transformation, the company projected that this could reduce the cost of the overall transition to clean energy by $1.4 billion.
“Across the country, and here in Michigan, the energy landscape is changing rapidly and fundamentally,” Jerry Norcia, chairman and CEO of DTE Energy, said. “We are excited to drive this transformation by powering the grid with Michigan-made renewable energy, existing nuclear and natural gas. These new solar and wind assets, enough to power approximately 4 million households, will replace our retiring coal power plants, resulting in a cleaner environment for Michigan families, communities, and businesses.”
DTE already hit the ground running last year with an announcement of an additional $8 billion to modernize the grid and improve its resilience and reliability. Now, the plan to be filed with the Michigan Public Service Commission (MPSC) also calls for the development of more than 15,000 MW of renewable resources and building more than 1,800 MW of energy storage – more than double the current capacity in the case of storage.
Coal use would be entirely ceased by 2035 through phased retirements, advancing a timeline that had originally been set for 2040. New uses would instead be found for at least one of the company’s existing coal power plants, which DTE stated would allow it to advance carbon reduction timelines at a fraction of the cost of building a new plant.
“We also know natural gas plays an important role in a diverse energy mix, and that is why repurposing our Belle River power plant to run on natural gas instead of coal, alongside 24/7 carbon-free nuclear energy, will significantly reduce emissions while providing energy to meet periods of high customer demand,” Trevor Lauer, president and COO of DTE, said. “These 24×7 assets allow the Company to add thousands of megawatts of renewables onto the grid while also creating a bridge to new, emerging technologies that we expect in the years to come.”
While the company has kept its ultimate net zero emissions goal for 2050, many of its targets were moved up in this plan, from 32 percent CO2 reductions by next year to 90 percent reductions by 2040 – improved from an original goal of 80 percent.
