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Duke Energy launches an economic path for renewable energy for large customers.
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Regulators approve 200 megawatts of new renewable energy capacity.
GREENVILLE, SC – The South Carolina Public Service Commission (PSCSC) approved Duke Energy’s Green Source Advantage program in South Carolina, allowing the company to expand renewable energy options for customers. See the PSCSC order here.
The Green Source Advantage program is based on similar programs that Duke Energy has been offering to large customers since 2014. The program offers large customers the flexibility to select and negotiate all price terms directly with a renewable supplier of their choice, as well as retain renewable energy certificates (RECs) generated by the renewable installation. The customer and the renewable energy supplier can also agree on the right contract duration for them.
“This program offers a viable, convenient and low-cost path for large customers looking to advance their renewable energy and sustainability goals,” said Michael Callahan, president of Duke Energy in South Carolina. “The Green Source Advantage will help them meet these goals on your terms. ”
The registration window for the program opens on March 29 at 9 am, based on the order of arrival. Visit duke-energy.com/scgreensource for application details and eligibility requirements.
The program will be available until the total capacity of 200 megawatts (MW) is fully signed. Of this 200 MW capacity, 35 MW will be reserved for local government and university customers for nine months.
The remaining 165 MW will be reserved for large non-residential consumers – 125 MW for Duke Energy Carolinas and 40 MW for Duke Energy Progress.
Duke Energy Carolinas serves more than 600,000 customers primarily in the northern region of the state of South Carolina. Duke Energy Progress serves more than 170,000 people, primarily in the state’s Pee Dee region.
Collaborating to expand renewable energy in the state of Palmetto
Green Source Advantage is yet another victory for South Carolina customers and is a direct result of historic collaborative efforts in recent years.
Law 236 – historic legislation passed in 2014 – provided a framework for customers to install solar energy in their homes and businesses through strategic programs such as net metering incentives and discount offers. The company provided more than $ 65 million in discounts as an extra incentive for customers wishing to use solar energy across their footprint in South Carolina. The company also created shared solar energy programs in the state – allowing customers to participate of the benefits of renewable energy without installing solar panels in your homes or businesses.
In 2019, Law 62 activated even more programs such as Green Source Advantage and shared solar energy. The law also encouraged the continued collaboration of utilities with leading solar energy suppliers, environmental groups and advocates for renewable energy that, if passed by regulators, will create long-term stability for the residential solar industry in South Carolina through what could be the next generation of net energy metering for the Carolinas.
This ongoing effort to increase access to renewable energy in South Carolina fits well with the company’s announced plans to reduce its carbon footprint. Duke Energy has reduced carbon emissions from electricity generation by more than 40% since 2005, and the company is working to reduce carbon emissions by at least 50% by 2030 and achieve net zero carbon emissions by 2050.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company based in Charlotte, NC, is one of the largest energy holding companies in the USA. It employs 29,000 people and has a power generation capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its unregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers’ experience, modernizing the power grid, generating cleaner energy and expanding the natural gas infrastructure to create a smarter energy future for the people and communities it serves. Electric Utilities and Infrastructure regulated utilities serve 7.8 million retail electricity consumers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and micro-grid projects.
Duke Energy was nominated for Fortune’s 2020 list of the “Most Admired Companies in the World” and Forbes’s “Best Employers in America” list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains press releases, fact sheets, photos, videos and other materials. Duke Energy lighting features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Ryan Mosier
Media line: 800.559.3853