Duke Energy Slashes Clean Energy Goals, Boosts Fossil Fuels
Duke Energy has scaled back its clean energy ambitions, proposing to build half as much wind and solar capacity over the next decade, according to a new news submitted to regulators. The utility giant, which serves much of North Carolina, also aims to significantly increase its investment in battery storage and fossil fuel plants.
The new news, a departure from Duke Energy's previous trajectory, suggests a reduced commitment to renewable energy. It plans to build around 7.5 gigawatts of wind and solar capacity by 2035, half of what was initially projected. However, the company intends to invest in about 1.5 gigawatts more battery storage than previously planned, totalling around 7.5 gigawatts by 2035.
Duke Energy's plans for fossil fuels are more ambitious. The company proposes to build new fossil-fuel plants, with a total build-out reaching 9.7 gigawatts by 2035 and potentially 12.3 gigawatts by 2040. This includes extending the life of aging coal plants and developing more natural-gas units. The construction of new nuclear power plants is also set to be delayed until later in the 2030s.
Josh Brooks of the North Carolina Sustainable Energy Association criticized Duke Energy's proposal, describing it as 'a regressive vision for North Carolina's energy future'. The utility company's plans come after the state's GOP-led legislature removed a key decarbonization deadline for Duke Energy in July. The final decision on Duke Energy's proposal rests with state regulators.
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