(Credit: Duke Energy)In order to meet economic growth and rising energy demand in North Carolina, Duke Energy has updated its resource plan in order to advance its clean energy transition.
In the updated plan, Duke Energy includes advancement of new clean energy generation from nuclear and hydrogen-capable natural gas along with increased solar, wind, and storage capacities. The company also emphasizes the need to meet “unprecedented strong growth in the Carolinas” with its clean energy expansion.
The Carbon Plan Integrated Resource Plan follows a least-cost path to meet carbon emission reduction targets set in North Carolina’s clean energy law, House Bill 951.
“This plan delivers a path to cleaner energy without compromising grid reliability, affordability, or the energy demands of a growing region,” said Kendal Bowman, president of Duke Energy North Carolina. “We project exponential growth, far beyond what has already made us the top state for business, so we’ve charted an ambitious roadmap for meeting that need while protecting reliability and affordability for our customers.”
Energy use from Duke Energy customers in the Carolinas is expected to increase by about 35,000 gigawatt-hours over the next 15 years, which amounts to more than the energy use of Delaware, Maine, and New Hampshire combined.
Three core energy portfolios have been proposed to accommodate this rising demand. The three proposals include a 70% carbon reduction by 2030, 2033, and 2035, respectively, and all three include the goal of reaching carbon neutrality by 2050.
The new plan maintains Duke Energy’s original commitment to phasing out coal completely by 2035 and proposes ambitious, fast-paced growth, beyond that of their original 2022 Carbon Plan. According to the company’s least-cost, least-risk portfolio, this would include 6 GW of solar energy and 2.7 GW of storage by 2031, 5.8 GW of hydrogen-capable natural gas by 2032, and 1.2 GW of onshore wind, along with pumped storage hydropower and advanced nuclear power.
“We’ve already made tremendous progress in the energy transition, retiring two-thirds of our aging coal plants in the Carolinas and reducing emissions by 46% since 2005,” said Bowman. “Now we’re proposing specific new generation at existing plant sites, leveraging our current infrastructure, transmission system, and workforce to save customers money while supporting job creation and tax base in these communities.”
Duke Energy has held five stakeholder engagement meetings for the new plan, attended by customers, environmental advocates, community leaders, and other industry leaders.
The filing of the plan in North Carolina marks the start of a public regulatory process that involves the evaluation of testimony and data from the company, customers, and other involved parties. The same resource plan was filed in South Carolina as well, and regulators will conduct similar proceedings there. The plan will be reassessed and adjusted accordingly every two to three tears.
