Duke Energy has various subsidiaries all over the US. The North-Carolina based electric power holding company is now coming together with further goals.
There are around 9 subsidiaries of Duke Energy. Started out in 1900, the company was working on hydroelectric projects prior to 1905. Eventually, in 2006, they also selected a potential nuclear plant. Though they later decided not to continue with nuclear plant expansion their expertise is long-term.
Clean energy shift
Being a company that was once in court for producing more emissions. Eventually, Duke Energy came around with its subsidiaries in renewable energy. Now, they plan to help companies shift towards sustainable energy and related infrastructure products.
They are going to provide everything from financing, planning, installation, collection, and fleet electrification. Furthermore, they will also assist with the distribution networks and management services.
The president of Duke energy sustainable energy solution, Chris Fallon says,
“We know customers are looking for energy solutions that can create real change in our communities while helping their bottom line. We’re combining decades of experience in project development, operations, and financing to design innovative solutions that fit within customers’ existing infrastructure or create new renewable energy or resiliency solutions that will address their needs and help them achieve their sustainability goals.”
Additionally, they also provide consultation on microgrids. Also, Irrespective of the capacity to be installed, they will provide efficient methods.
Shift towards sustainability
The clean energy strategy from Duke Energy is an innovative smarter system to shift towards renewable energy sources. The company is set to achieve zero carbon emissions by 2050 and at least a 50% reduction by 2030.
Besides, they are on their way to renewable energy capacity themselves. Around 16,000MW by 2025.
— Duke Energy (@DukeEnergy) April 28, 2021
As said by the vice president of Duke Energy, says, “Duke Energy has a clear line of sight to reduce our carbon emissions by at least 50% by 2030 and is making terrific progress to achieve net-zero carbon emissions by 2050. 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,”
With their current electricity supply from hydroelectric, wind and solar about 7%. Eventually, they plan to increase this percentile to 23% by 2030. Their wind and solar projects are in construction currently.
Their Bad creek facility in California will have 280MW pumped storage hydro capacity. So far, the company’s carbon emissions fell by 45% from 2005. Their new renewable energy projects will also be creating 18,000 new jobs. Also, the electric rates by Duke energy are low than usual.