Wind power project in Texas: The sun and wind are helping Duke Energy reduce carbon emissions.

Renewable Energy’s Growth Continues To Accelerate

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To achieve net-zero carbon emissions by 2050, renewable generation will be important to Duke Energy’s strategy and will become a growing part of the diversified portfolio the company is building to reliably meet customer demand. To accelerate the company’s transition to cleaner energy solutions, Duke Energy is planning to double its portfolio of solar, wind and biomass by 2025.

The company has added more than 2,500 megawatts (MW) of solar capacity to our grid over the past four years, including significant growth in North Carolina that helped keep the state second in the nation for solar capacity.

In 2019, the company was awarded approximately 190 MW of utility-scale solar under North Carolina House Bill 589. Most of the projects will come online in 2021. The number of customers that installed or received a rebate under our $62 million multiyear rebate program in North Carolina increased by nearly 1,700 – bringing the total to 3,600 rebates. The program has doubled rooftop solar in the state in its first two years. Duke Energy also launched a Green Source Advantage program, helping large customers and municipalities meet their sustainability goals.

To accelerate the company’s transition to cleaner energy solutions, Duke Energy is planning to double its portfolio of solar, wind and biomass by 2025.

In Florida, the company’s Lake Placid and Trenton Solar Power plants came online, bringing nearly 120 MW to customers. In addition, the company announced other solar and battery projects, continuing its progress to add 700 MW of solar generation through 2022, while projecting to double its solar investments in the state by 2028.

Our Commercial Renewables business continues to grow as we announced approximately 1,500 MW in new projects, which will be placed into service by the end of 2020. This included our largest solar facility to date, the 150-MW North Rosamond solar project in California, which started operation in June. As well, our 200-MW MesteƱo Windpower project in Texas began commercial operation in December, producing enough energy to power about 60,000 average homes.

Looking ahead, Commercial Renewables has nearly 1,300 MW of wind and solar energy in late-stage development – the majority of which will come online in 2020.