STOCK TITAN

Duke: A New Way for Companies in Indiana To Cut Carbon Emissions

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Duke Energy has launched the Blue River Solar Facility in Shelbyville, Indiana, marking the first project of its pilot solar program. This facility spans 8 acres and will provide up to 900 kilowatts of solar energy, primarily for the local business, Toray Resin Co., which aims to reduce its carbon emissions significantly by 2030. Through a lease program, local businesses can access solar energy without upfront costs, receiving credits for the energy produced. The construction faced delays due to supply chain issues during the pandemic, but the project was successfully completed in August 2022.

Positive
  • Launch of Blue River Solar Facility supports local business sustainability efforts.
  • First project in Duke Energy's pilot solar program, facilitating clean energy access.
Negative
  • Construction faced delays due to supply chain issues during the pandemic.

NORTHAMPTON, MA / ACCESSWIRE / March 2, 2023 / Duke Energy

By Virginia Brown

Thousands of solar panels now line an 8-acre plot in Shelbyville, Ind., converting an undeveloped field into a clean energy factory.

The Blue River Solar Facility is the first in Duke Energy Indiana's pilot solar program, which makes it easier for businesses, schools and nonprofits to use clean, renewable energy.

Duke Energy installs, operates, owns and maintains the system, while customers receive kilowatt-hour and solar renewable energy credit output, up to an initial limit of 1 megawatt.

"The company gets the benefits, including renewable energy credits that go with it," said Jim Hummel, a Duke Energy renewables manager, "but they don't have to have that big, upfront capital investment. It's a lease program."

The utility announced the solar services project in 2019. Once enrolled in the program, eligible Indiana customers can hook up to the on-site solar system for 20 years for a monthly fee.

Toray Resin Co., a plastics manufacturer and subsidiary of Toray Industries, was the first business to go online.

A few years ago, the Tokyo-based company announced its environmental impact goals: to reduce their greenhouse gas emissions by 30% by 2030, and to reach net-zero carbon emissions by 2050.

"Our primary carbon footprint is attached to the electricity that we consume," said Scott Hickman, general manager at Toray Resin Co. "But we knew it was going to be very difficult for us to get to a net-zero basis by 2050 if our energy suppliers aren't doing something similar."

That's where Duke Energy, which has its own companywide goals of reaching net-zero emissions by 2050, comes in.

"Just as we were trying to figure out how we can take advantage of solar," Hickman said, "this opportunity to partner with Duke Energy came about."

At Toray, the program is major news: The story will be featured in the winter edition of the company magazine that circulates to its 48,000 employees.

"We are starting to see more and more customers that have their own, strong environmental sustainability goals," said Hummel, who has been with Duke Energy for over 30 years.

Construction on the Blue River Solar Facility began in October 2021 and was completed in August 2022. The project hit some snags during the COVID-19 pandemic, including supply chain hiccups, material shortages, and disruptions in the workforce.

Duke Energy Account Executive Rick Smith helped shepherd the project through these hurdles.

"We recognized that we had a unique opportunity to work hand-in-hand with Toray Resin to help power their operations in a sustainable and cost-effective way, while also making progress toward a cleaner energy future," Smith said.

"As the first of anything, there's always challenges and hurdles," Hickman said, "but that is to be expected."

For the Toray site, Jeff Bladen, Duke Energy project manager, oversaw the installation, which included engineering, organizing contractors, and other considerations, like maintaining easement distances from railroad tracks and power poles.

Today, roughly 2,500 panels, each 6 feet tall, 3 1/2 feet wide and 1 1/2 inches thick, fill the lot.

"The solar array also helps with the production that we would normally produce from our plant and reduces that load on the grid," Bladen said. "Plus, they get the clean power to use every day."

At capacity, the site would generate up to 900 kilowatts of solar energy to help power operations, while offsetting carbon emissions.

"As the utility, it's our job to listen to what customers need to meet their goals," Hummel said, "and provide them with products that will help them get there."

View original content here

Duke Energy, Thursday, March 2, 2023, Press release picture

View additional multimedia and more ESG storytelling from Duke Energy on 3blmedia.com.

Contact Info:
Spokesperson: Duke Energy
Website: https://www.3blmedia.com/profiles/duke-energy
Email: info@3blmedia.com

SOURCE: Duke Energy



View source version on accesswire.com:
https://www.accesswire.com/741674/Duke-A-New-Way-for-Companies-in-Indiana-To-Cut-Carbon-Emissions

FAQ

What is the Blue River Solar Facility by Duke Energy?

The Blue River Solar Facility is Duke Energy's first pilot solar project in Indiana, spanning 8 acres and providing up to 900 kilowatts of solar energy.

When was the Blue River Solar Facility completed?

The construction of the Blue River Solar Facility was completed in August 2022.

How does Duke Energy's solar lease program work?

Duke Energy's solar lease program allows businesses, schools, and nonprofits to access solar energy without upfront costs, for a monthly fee.

Which company is the first to use energy from the Blue River Solar Facility?

Toray Resin Co. is the first business to utilize energy from the Blue River Solar Facility.

What are the sustainability goals of Toray Resin Co.?

Toray Resin Co. aims to reduce its greenhouse gas emissions by 30% by 2030 and reach net-zero carbon emissions by 2050.

Duke Energy Corporation

NYSE:DUK

DUK Rankings

DUK Latest News

DUK Stock Data

82.50B
771.31M
0.14%
67.36%
1.18%
Utilities - Regulated Electric
Electric & Other Services Combined
Link
United States of America
CHARLOTTE