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Regulators in North Carolina have approved Duke Energy’s plan to replace some of the utility’s coal-fired units with natural gas-fired generation. The North Carolina Utilities Commission in December issued orders […]
The post Officials Approve Duke Energy’s Plan to Replace Coal with Gas-Fired Units appeared first on POWER Magazine.
Small modular reactors (SMRs) are widely considered the best technology to increase the use of nuclear power worldwide, with advocates touting their zero-emission production of electricity, smaller land footprint, and scalability. SMRs also offer a cost savings over construction of new utility-scale nuclear reactors.
Powering a college campus with nuclear energy has increasingly been a topic of discussion in recent years, as universities try to reduce their carbon footprint and many seek to upgrade older, fossil fuel-powered central utility plants. Purdue University and Duke Energy on April 27 announced that officials will jointly look at the feasibility of using nuclear power to meet the school’s energy needs.
“No other option holds as much potential to provide reliable, adequate electric power with zero carbon emissions,” said Mitch Daniels, Purdue’s president since 2013 after serving two terms as Indiana’s governor. “Innovation and new ideas are at the core of what we do at Purdue, and that includes searching for ways to minimize the use of fossil fuels while still providing carbon-free, reliable, and affordable energy.…
Duke Energy, the nation’s largest power producer, will dramatically slash coal generation’s share from the current 22% of total generation to 5% by 2030 and achieve a full phaseout of unabated coal by 2035. The company instead expects to deploy more than $ 130 billion over the next decade—$ 63 billion of which it will spend over the next five years—to fund investments in grid modernization and efforts to replace its coal fleet with renewables, natural gas, and emerging technologies.
The ambitious goals, unveiled as part of an expansion of Duke Energy’s “clean energy action plan” on Feb. 9, will keep the company on track to achieve 2020-announced commitment to reduce its greenhouse gas emissions (GHG) by at least 50% by 2030 and to achieve net-zero emissions by 2050, it said. Under the plan, the company will expand its 2050 net-zero goals to include Scope 2 and specific Scope 3 emissions.
“In its electric business, the company’s net-zero goal will include greenhouse gas emissions from the power it purchases for resale, from the procurement of fossil fuels used for generation and from the electricity purchased for its own use,” the company explained.…
Duke Energy this week said it has a definitive agreement to sell a minority interest in part of its commercial renewable energy portfolio owned and operated by its affiliate, Duke Energy Renewables, to the John Hancock Infrastructure Fund and John Hancock Life Insurance Company. Duke in an April 24 release said the interest is valued at about $ 1.25 billion.
Duke said the deal includes 49% of 37 operating wind, solar, and battery storage assets, and 33% of 11 operating solar assets across the U.S. John Hancock’s interest will represent about 1.2 GW of power generation capacity after the deal is closed. John Hancock will also have the right to acquire a minority interest in certain additional wind and solar projects in the future, providing a potential source of future growth capital to Duke Energy.
“We look forward to working alongside John Hancock as we continue providing clean and affordable energy to our customers across the country,” said Rob Caldwell, president of Duke Energy Renewables. …
Regardless of recent federal support for a revitalization of coal in the U.S., “the economics are challenged,” Lynn Good, CEO of Duke Energy, said March 1 during a presentation at the U.S. Department of Energy’s (DOE) Advanced Research Projects Agency-Energy (ARPA-E) Energy Innovation Summit.
“I think coal continues to be an important part of a diverse set of resources … about a third of our generation comes from coal, but that will be declining over time,” she said.
The story of the decline of coal is not as cut and dried as many on Capitol Hill have suggested. The regulations passed in the last administration did play a part, but so did the decrease in natural gas pricing, Good said.
Regarding regulation, Good pointed to the Obama administration’s Mercury and Air Toxics Standards (MATS), which forced many energy generators to make some tough decisions. “The mercury rule is the one I would point to most specifically that put a lot of challenge into the coal fleet, whether the investment to address that regulation made sense given the life of each of those plants.”…
Duke Energy Renewables, part of Duke Energy’s Commercial Portfolio, announced on September 7 that it will add six Georgia solar projects to the 2.8-GW renewable energy portfolio the company owns and operates.
The projects are relatively small in terms of capacity—averaging about 1 MW DC each (769 kW AC)—but they are the first Duke Energy has acquired in Georgia, giving it projects in 14 states (Figure 1). SolAmerica Energy developed the sites, located in the southern and central part of the state, under an engineering, procurement, and construction agreement with REC Solar, a Duke Energy affiliate.
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| 1. Duke Energy Renewables U.S. portfolio map. Courtesy: Duke Energy |
“In acquiring these solar sites, we add Georgia to our growing U.S. renewables footprint,” said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. “SolAmerica and REC Solar have completed quality projects that will deliver clean energy to Georgia Power’s customers for years to come.”
The projects—constructed with panels manufactured by Yingli—are part of the Georgia Power Advanced Solar Initiative.…