STOCK TITAN

DTE Energy to bring additional renewable energy to more customers in Michigan

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary

DTE Energy has announced new initiatives to enhance renewable energy accessibility following approval from the Michigan Public Service Commission. The MIGreenPower program will see cost reductions and simpler enrollments. Community solar projects are planned in Detroit, Highland Park, and River Rouge to support low-income residents, providing 100% renewable energy and bill credits. By 2023, DTE aims to exceed 2,700 megawatts of renewable energy capacity, enough to power approximately 900,000 homes. These efforts align with DTE's commitment to achieve net zero carbon emissions by 2050.

Positive
  • Approval for community solar projects to increase renewable energy access for low-income customers.
  • MIGreenPower program enhancements to lower costs and simplify enrollment.
  • Plan to achieve over 2,700 megawatts of renewable energy capacity by 2023.
Negative
  • None.

Detroit, June 09, 2021 (GLOBE NEWSWIRE) --

  • Changes to voluntary renewable program makes MIGreenPower more accessible and affordable for all customers
  • Community solar projects planned in Detroit, Highland Park and River Rouge to increase access to renewable energy for low income customers
  • DTE will have more than 2,700 megawatts of renewable energy by 2023, enough to power 900,000 Michigan homes

DTE Energy (NYSE: DTE) today announced the Michigan Public Service Commission (MPSC) approved the company’s plans to bring additional renewable energy to more of its customers. 

DTE, in an effort to continue to provide more accessibility to renewable energy, will work with local organizations in Detroit, Highland Park and River Rouge to build new community solar projects in these cities. The projects will provide a number of qualifying low-income residents with 100% renewable energy as well as credits that will result in lowering their monthly bill. DTE has agreed to fund a portion of these projects and will be seeking to partner with third party organizations to assist in funding these new beneficial community pilot projects. 

DTE will also enhance its popular MIGreenPower program, which enables customers to attribute their electrical usage to designated wind and solar projects and reduce their carbon footprint without installing their own generation systems. Approved changes to the MIGreenPower program will lower the program’s cost and simplify enrollment, including adding a fixed-price subscription option. DTE expects to implement the new program changes during the first quarter of 2022. 

“Today’s decision represents nearly 16 months of dedicated work and engagement with multiple stakeholder groups,” said Trevor Lauer, president of DTE’s electric company. “We want to thank the MPSC and all of the parties involved for working with us on this effort. We also want to thank the 500 plus customers a week who are enrolling in MIGreenPower as well as the many businesses and institutions, including the State of Michigan, who are using the program to bring more clean energy to the grid. This program provides our customers with a low-cost option to access clean energy without having to make long-term financial commitments or alter their homes’ exterior. In addition, the new community solar pilots will help us meet the needs of municipalities and other communities who want more proximity to and involvement with these projects.”      

The company will establish a process that will enable customers and private philanthropic organizations to both fund MIGreenPower subscriptions for low-income customers through traditional MIGreenPower projects and help support the community solar projects in Detroit, Highland Park and River Rouge. If the company is successful in securing the necessary funding, low-income customers who participate in either of these options will receive the bill credits associated with program enrollment without paying the subscription fee. Customers can learn more about these options, including how to donate to them on DTE’s Empowering Michigan blog. 

DTE views climate change as one of the defining issues of our era, and the company is making fundamental changes to the way it produces energy with the goal of achieving net zero carbon emissions by 2050. In leading the effort to decarbonize the state’s economy, the company is also committed to helping its customers and partners deliver on their own environmental goals. With today’s MPSC decision, DTE will continue working with the City of Ann Arbor to positively contribute to the City’s sustainability plan. 

In addition to the approvals, the MPSC will allow DTE to add more than 420 megawatts of new solar capacity proposed as part of the company’s renewable energy plan filed on August 31, 2020. Approval of this renewable energy plan clears the way for DTE to add a total of 1,000 megawatts of new wind and solar by the end of 2023. When the new projects come online, DTE’s portfolio will include more than 2,700 megawatts of renewable energy, enough clean energy to power approximately 900,000 Michigan homes.

  

About DTE Energy

DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.2 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on power and industrial projects, renewable natural gas, natural gas pipelines, gathering and storage, and energy marketing and trading. As an environmental leader, DTE will reduce carbon dioxide and methane emissions by more than 80 percent by 2040 to produce cleaner energy while keeping it safe, reliable and affordable. DTE is committed to serving with its energy  through volunteerism, education and employment initiatives, philanthropy and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, twitter.com/dte_energy and facebook.com.

 

Attachment


FAQ

What changes were made to the MIGreenPower program by DTE?

DTE has approved changes to the MIGreenPower program to lower costs and simplify enrollment for customers.

Where are the new community solar projects being developed?

Community solar projects are planned in Detroit, Highland Park, and River Rouge.

How much renewable energy does DTE plan to have by 2023?

DTE aims to exceed 2,700 megawatts of renewable energy capacity by 2023.

What is DTE's goal regarding carbon emissions?

DTE aims to achieve net zero carbon emissions by 2050.

DTE Energy Company

NYSE:DTE

DTE Rankings

DTE Latest News

DTE Stock Data

24.84B
207.10M
0.32%
77.83%
1.27%
Utilities - Regulated Electric
Electric Services
Link
United States of America
DETROIT