CHARLOTTE, N.C. – Duke Energy (NYSE: DUK) today provided an update on its strategy to meet customers’ need for affordable, reliable and increasingly clean energy. The company’s planned investment of $145 billion over the next 10 years for critical energy infrastructure is essential to meeting these customer needs and achieving net-zero carbon emissions by 2050 while also creating substantial economic benefits for the communities it serves.
“Our customers’ expectations are clear – they want affordability and reliability to remain a central focus as we work to achieve net-zero carbon emissions by 2050,” said Lynn Good, Duke Energy chair, president and CEO. “We look forward to continuing our collaboration with customers, regulators, community leaders and other stakeholders to meet these expectations. These critical energy infrastructure investments will also provide substantial economic benefits, including job creation and tax revenue for essential governmental services in our regions.”
Investing in critical energy infrastructure
To meet customer needs, the company is updating its capital investment plan for its seven regulated utilities to $145 billion over the next decade, a $10 billion increase over its previous 10-year plan. Eighty-five percent of the planned investment will fund the company’s generation fleet transition and grid modernization. This includes approximately $75 billion to modernize and harden its transmission and distribution infrastructure; $40 billion for zero-carbon generation, such as solar, wind and battery storage resources, and extending the life of its nuclear fleet; and approximately $5 billion in hydrogen-enabled natural gas technologies. The ultimate timing of investments will be subject to regulatory approvals.
Read the full update: https://news.duke-energy.com/releases/duke-energy-outlines-progress-on-clean-energy-transition
