Striving toward a lower-carbon future
Duke Energy is committed to a cleaner, smarter energy future. We have worked to modernize our system and established voluntary carbon reduction goals in 2010.
Our tons of CO2 emissions have decreased 28 percent since 2005. In addition, the CO2 intensity of our generating fleet is more than 23 percent lower, producing fewer emissions per kWh. More than 40 percent of the electricity we generated in 2015 was from carbon-free sources: nuclear, hydro, wind and solar. Our current five-year business plan includes plans to retire more than 1,800 MW of coal generation, invest $4 billion in new, efficient natural gas facilities and invest $3 billion in renewables.
The Clean Power Plan (CPP) is a new federal regulation by the United States Environmental Protection Agency (EPA) that establishes performance standards for CO2 emissions from existing fossil-fueled power plants – those that use coal, oil or natural gas to produce electricity. Twenty-seven states and numerous industry organizations have challenged the rule in the courts, and 18 states have filed petitions in support of it. In February 2016, the U.S. Supreme Court issued a stay of the CPP, suspending the regulation from going into effect while legal challenges are heard by the courts. It is unclear when the legal challenges will be fully resolved.
If the rule is ultimately upheld, EPA estimates the regulation will reduce CO2 emissions by 32 percent from 2005 levels by 2030, although specific reduction targets vary by state. Regardless of the legal outcome of the CPP, we remain committed to reduce emissions and invest in energy technologies that are good for our customers, our communities and the environment. Duke Energy will continue to work constructively with our states as they decide their path forward.