CHARLOTTE, N.C., Sept. 15, 2020 /PRNewswire/ -- Duke
University has become the first academic institution to execute a
renewable power agreement under Duke Energy's Green Source
Advantage (GSA) program – further expanding solar energy in
North Carolina.
Duke University will purchase about
101 megawatts (MW) of solar capacity from three solar facilities in
North Carolina. The power
generated will partially offset the university's energy usage.
"The Green Source Advantage is an ideal fit for colleges and
universities seeking to advance their renewable energy and
sustainability goals," said Stephen De
May, Duke Energy's North
Carolina president. "The innovative program's flexibility
allows for a major expansion of renewable energy in North Carolina."
The agreement will help Duke
University's ambitious effort to become carbon neutral by
2024.
The expanded solar energy fits into the university's Climate
Action Plan, which was launched in 2009 and updated in 2019 with a
goal of reducing on-campus emissions by 84% by 2024, with the
remaining emissions reduced to zero through investment in carbon
offsets.
Duke University will partner with
Asheville, N.C.-based Pine Gate
Renewables to build the solar projects, which are being developed
in partnership with Silver Pine Energy Holdings. The facilities
will be online by 2022.
"We are excited to partner with Duke Energy and Duke University for these projects," said Pine Gate
Renewables CEO Ben Catt. "We've
developed, constructed and energized dozens of solar projects with
Duke Energy over the years, and look forward to bringing more
renewable energy to North Carolina
through innovative and exciting programs such as GSA."
"This partnership (with Pine Gate Renewables) is a key step
toward carbon neutrality," said Duke
President Vincent E. Price.
"Duke is committed to building on our
history of leadership in protecting the environment, a vitally
important priority for our university – and for humanity – as we
grapple with the challenges of climate change."
The GSA program is an outgrowth of 2017's landmark solar
legislation in North Carolina.
Programs such as solar rebates for customers and solar leasing were
also part of that legislation. Overall, there is 600 MW of capacity
available under GSA. Currently, around 30 MW is still available to
eligible customers.
The GSA allows large energy users to offset its power purchases
by securing renewable energy from projects connected to the Duke
Energy grid. The customer may keep the Renewable Energy
Certificates (RECs) of the projects and use the energy purchased to
satisfy sustainability or carbon-free goals.
Two other GSA contracts have been announced this year:
- The City of Charlotte will buy
the output from a 35-MW facility in Iredell County.
- Bank of America will buy the output from a 25-MW facility
planned by Silver Pine Energy Holdings.
Under GSA, customers and developers agree on the specific
project and additional costs associated with energy from the
facility. Other Duke Energy customers do not pay for any part of
the project.
Duke Energy maintains about 3,500 MW of solar power on its
energy grid in North Carolina,
which could power about 700,000 homes and businesses at peak
output. The company also operates 40 solar facilities in the state.
North Carolina currently ranks No.
2 in the nation for overall solar power.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in
Charlotte, N.C., is one of the
largest energy holding companies in the U.S. It employs 30,000
people and has an electric generating capacity of 51,000 megawatts
through its regulated utilities, and 3,000 megawatts through its
nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience,
modernizing the energy grid, generating cleaner energy and
expanding natural gas infrastructure to create a smarter energy
future for the people and communities it serves. The Electric
Utilities and Infrastructure unit's regulated utilities serve
approximately 7.7 million retail electric customers in six states –
North Carolina, South Carolina, Florida, Indiana, Ohio
and Kentucky. The Gas Utilities
and Infrastructure unit distributes natural gas to more than 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 microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired
Companies" list, and Forbes' 2019 "America's Best Employers" list.
More information about the company is available at duke-energy.com.
The Duke Energy News Center contains news releases, fact sheets,
photos, videos and other materials. Duke Energy's illumination
features stories about people, innovations, community topics and
environmental issues. Follow Duke Energy on Twitter, LinkedIn,
Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy