Business

Duke boosts renewable energy goal by 33%

By Lightning Reports, Published: April 28, 2016

CHARLOTTE — Building on its dramatic growth in renewable energy, Duke Energy has raised its 2020 renewable energy goal by 33 percent.

The company expects to own or purchase 8,000 megawatts of wind, solar and biomass capacity by 2020 – a 33 percent jump from the old goal of 6,000 megawatts established in 2013.

“Duke Energy is accelerating the pace of our renewable energy program allowing us to increase our goal for wind, solar and biomass on our system,” Cari Boyce, vice president for Policy, Sustainability and Stakeholder Strategy, said in a news release. “Renewable energy will continue to be a growing part of our generation mix in the future.”

The goal is spelled out in the company’s 10th edition of its Sustainability Report issued Thursday. Read the report here.

As of the end of 2015, the company owned or purchased nearly 4,400 megawatts of wind, solar and biomass: 49 percent wind, 39 percent solar and 12 percent biomass.

Overall, Duke Energy operates more than 52,000 megawatts of generating capacity in the United States.

The report also tracks the company’s progress on other sustainability goals and programs. Highlights:

· Duke Energy continues to be a cleaner company. In 2015, overall carbon dioxide emissions from generation were 28 percent below what they were 10 years ago – and about 6 percent less than 2014.

· Carbon intensity, the amount of carbon dioxide released per kilowatt-hour of electricity produced, is 23 percent lower than 10 years ago.

· Since 2009, Duke Energy has provided more than 70 million deeply discounted energy-efficient lighting products to our customers.

· Duke Energy’s price per kilowatt-hour of electricity is lower than the national average in all six states the company serves retail customers.

· Since 2013, Duke Energy has helped its communities attract more than 37,000 jobs and more than $10 billion in capital investment.

For 10 straight years, Duke Energy has been a part of the Dow Jones Sustainability Index for North America.

The Sustainability Report provides an overview and data on how Duke Energy creates value. It details the company’s performance in its four key focus areas – customers, growth, operations and employees. A number of employees are highlighted for their contributions to Duke Energy’s sustainability efforts.

One of the largest electric power holding companies in the U.S., Duke serves approximately 7.4 million electric customers in six states in the Southeast and Midwest with a population of 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.

Headquartered in Charlotte, Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.