Duke Energy’s $90 Billion Plan Aims to Expand Renewable Sources and Reduce Carbon Emissions in South Carolina
Duke Energy Corp., the Charlotte-based utility serving parts of South Carolina, has recently unveiled a long-term plan worth $90 billion. The proposal aims to meet the rising energy demand in the Carolinas through 2038 while prioritizing the expansion of renewable energy sources and reducing carbon emissions.
In its proposal submitted to the S.C. Public Service Commission, Duke Energy outlined a comprehensive plan that emphasizes the development of solar power without solely relying on weather-dependent resources. The utility aims to demonstrate how it will meet the projected energy demand and environmental requirements over the next 15 years.
According to Mike Callahan, President of Duke Energy South Carolina, the energy use by Duke Energy customers in the Carolinas is projected to increase by around 35,000 gigawatt-hours, which is equivalent to the annual generation of Delaware, Maine, and New Hampshire combined.
To prepare for this anticipated surge in energy demand, Duke Energy presented regulators with three portfolios that offer a range of generation options. The proposals set a target of at least a 50% reduction in carbon emissions by 2030, with the ultimate goal of achieving net zero carbon emissions by 2050.
Among the proposed options, Duke Energy highlights its preferred plan as the most prudent. This plan involves retiring or repurposing all 15 of Duke’s remaining coal generating units by 2035. Additionally, it includes the addition of 6,000 megawatts of solar power, 2,700 megawatts of backup battery storage, and 1,200 megawatts of onshore wind energy between 2031 and 2033.
Duke Energy also plans to double the output of its Bad Creek Hydroelectric Station in Oconee County by adding a second powerhouse by 2034. Furthermore, the utility aims to implement technologically advanced nuclear energy, adding 600 megawatts to its system by 2035 at reduced building costs.
To ensure grid reliability and address growing energy demands, Duke Energy plans to add approximately 5,800 megawatts of generating capacity at natural gas plants. These plants will also have the ability to operate using hydrogen, thus promoting cleaner energy alternatives.
Duke Energy’s proposed $90 billion plan demonstrates its commitment to cleaner energy sources and reducing carbon emissions. By adopting renewable energy options such as solar and wind power, along with advanced battery storage and nuclear energy, the utility aims to achieve significant reductions in carbon emissions while meeting the energy demands of a growing region.
The plan, which awaits evaluation by the regulatory panel, aligns with Duke Energy’s overarching goal of providing reliable and affordable power while transitioning to a more sustainable energy future. With a decision expected by mid-2024, South Carolina’s energy landscape could witness transformative changes in the coming years.
