Duke Energy investing $11 billion in cleaner energy
By Duke Energy
April 27, 2017 - A modernized generating fleet and additional investments of $11 billion in cleaner energy are spurring Duke Energy to establish an aggressive carbon dioxide reduction goal: 40 per cent from 2005 levels by 2030.
By Duke Energy
The goals are spelled out in the company’s 2016 Sustainability Report, which was issued today. View it online.
“As technology and customers’ expectations evolve, Duke Energy is responding by investing in innovative new solutions to power the lives of our customers with reliable, affordable and increasingly clean energy,” said Lynn Good, Duke Energy’s chairman, president and CEO. “How we generate energy is more important than ever before and we’re making long-term investments that will deliver a lower-carbon future.”
Duke Energy has been diversifying its generating fleet by retiring older coal units, building state-of-the-art natural gas and coal facilities, and expanding renewables. Today, natural gas provides 28 percent of the electricity Duke Energy produces, and 38 percent of the electricity generated is from zero emission sources, including nuclear, hydropower, wind and solar.
As a result of its system modernization, Duke Energy has reduced carbon dioxide emissions by more than 29 percent since 2005. The company’s planned investments over the next decade will build on that progress and further reduce emissions.
Also in the report, the company announced a new goal to lower carbon intensity, measured in pounds of carbon dioxide released per kilowatt-hour of electricity generated, by 45 percent versus 2005 output. In 2016, the company achieved an almost 25 percent reduction in carbon intensity versus 2005.
The Sustainability Report provides details of the company’s performance in four key areas – customers, growth, operations and employees. The report also tracks the company’s progress on other sustainability goals and programs, such as:
- Duke Energy is on track to meet its goal of owning or having under contract 8,000 megawatts (MW) of wind, solar or biomass capacity by 2020. At the end of 2016, the company had 5,400 MW, which is 1,000 MW above last year’s mark.
- Duke Energy remains on track as the price per kilowatt-hour of electricity remains lower than the national average in all six states the company serves retail electric customers.
- The company is on target to recycle 80 percent of its solid waste by 2018. Currently, 76 percent of the solid waste produced by Duke Energy is recycled.
- Duke Energy’s remains an industry leader in employee safety, with the company’s safety metrics continuing to improve.
Duke Energy has a long history of being among the top sustainable companies. For 11 straight years, Duke Energy has been a part of the Dow Jones Sustainability Index for North America.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company’s Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.