Duke Energy Proposes Major Shift to Fossil Fuels in North Carolina
Duke Energy, a prominent U.S. power company renowned for its stable dividends and revenue growth, has proposed a significant shift in its energy plans for North Carolina. The company aims to expand its fossil fuel capacity while reducing clean energy ambitions, drawing criticism from environmental groups.
Duke Energy's new proposal to regulators reveals a substantial increase in fossil fuel generation. By 2035, the company plans to add up to 9.7 gigawatts of new fossil-fuel plants, reaching 12.3 gigawatts by 2040. This includes extending the life of aging coal plants and developing more natural-gas units.
Contrary to previous plans, Duke Energy now intends to build half as much wind and solar capacity over the next decade. The company also plans to delay the construction of new nuclear power plants until later in the 2030s. However, it does aim to invest in about 1.5 gigawatts more battery storage than previously planned.
The shift in plans comes after North Carolina's GOP-led legislature removed a key decarbonization deadline for Duke Energy in July. Josh Brooks of the North Carolina Sustainable Energy Association described the proposal as 'a regressive vision for North Carolina's energy future'.
Duke Energy's revised plans, if approved, will significantly impact North Carolina's energy landscape. The company's increased focus on fossil fuels and reduced clean energy ambitions raise questions about its commitment to sustainability and the state's clean energy future.
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