Duke Energy plans to triple renewable energy this decade

Duke Energy Renewables

Duke Energy, the North Carolina-based energy company, plans to triple the amount of renewable energy on its mix by the end of this decade; according to what the company posted on its 15th Sustainability Report.

Firstly, the company aims to increase its current 7% of clean electricity, coming from wind, solar and hydroelectric plants, to a new total of 23% by 2030. To achieve that, Duke Energy undertook an aggressive renewable energy buildout for new projects currently under construction in Florida, North Carolina, Oklahoma and Texas.

Secondly, the company will also add further 280 megawatts of power from pumped storage hydro capacity at its Bad Creek facility in South Carolina. In fact, nuclear energy helped substantially the carbon-free generation of the company, as 35% of its total electrical output in 2020 came out of six nuclear plants in the Carolinas.

Thirdly, the report also highlights that the company is overseeing the largest coal retirement in the industry. In fact, since 2010, Duke Energy has retired 51 coal-fired units; also, an additional unit was retired las month bringing the total of coal-fired plants shut down to 52, according to the report.

Moreover, the company intends to cut sharply its carbon dioxide output. Since 2005 it has dropped around 40%. However, the company intends to bring it down to 50% by 2030.

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Duke Energy to create 18,000 new jobs

In addition, Duke Energy has also unified products and services through new subsidiaries; which are all intended to expand its renewable and low-carbon portfolio. These subsidiaries are Duke Energy Renewables, REC Solar and Duke Energy One.

On the other hand, the company has a special approach towards diversity and inclusion within the company. It formed an Equal Employment Opportunity Commission which ensures and shares employee diversity data.

Furthermore, the company’s economic development team helped attract nearly 18,000 new jobs; also $9,1 billion in capital investment to its service territories.

Finally, Katherine Neebe, the company’s vice president, said. “Duke Energy has a clear line of sight to reduce our carbon emissions by at least 50% by 2030; it is making terrific progress to achieve net-zero carbon emissions by 2050.

She concluded. “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.”

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