Duke Energy Unveils Ambitious 2030 Carbon Reduction Plan
Duke Energy has filed an updated carbon dioxide reduction plan, the Carbon Plan Integrated Resource Plan (CPIRP), with the North Carolina Utilities Commission (NCUC). The plan, submitted on August 17, is more ambitious than the previous 2022 plan, targeting a significant reduction in carbon dioxide emissions by 2030.
The CPIRP includes three core energy portfolios for the NCUC to review, each more ambitious than the 70% carbon dioxide reduction target by 2030 portfolio from the 2022 plan. The public regulatory process at the NCUC will begin following the filing, with public hearings scheduled before the end of 2024.
Duke Energy proposed a 'near-term action plan' with a target to deploy 6,000 MW of solar by 2031. The company projects exponential growth in electricity demand and has charted an ambitious roadmap to meet this growth while protecting reliability and affordability. The plan aims to replace retiring coal plants and support the Carolinas' economic growth with new infrastructure.
The NCUC is expected to issue its final CPIRP order by the end of 2024. The CPIRP aims to advance Duke Energy's energy transition while maintaining reliability and affordability. The plan is based on the 2022 Carbon Plan and aligns with North Carolina's carbon dioxide emissions reduction targets set in House Bill 951. It significantly increases the capacity of solar, wind, and energy storage compared to the 2022 version, demonstrating Duke Energy's commitment to a cleaner energy future.
