Duke Energy advances climate strategy with aggressive pledge to electrify vehicle fleet by 2030

Rhea-AI Summary

Duke Energy has announced a significant initiative to reduce carbon emissions by pledging to convert its fleet of 10,000 vehicles to electric or zero-carbon alternatives within 10 years. The plan includes converting 100% of its nearly 4,000 light-duty vehicles and 50% of its medium-duty, heavy-duty, and off-road vehicles. This effort aims to reduce CO₂ emissions by 60,000 metric tons annually and petroleum usage by 10 million gallons. Duke Energy's ongoing projects in Florida and proposed initiatives in the Carolinas and Ohio will enhance its EV infrastructure.

Positive

• Pledge to convert 10,000 vehicle fleet to electric or zero-carbon by 2030.
• Expected reduction of CO₂ emissions by 60,000 metric tons annually.
• Projected reduction of petroleum usage by 10 million gallons per year.
• Ongoing installation of EV charging stations showing positive outreach.

Negative

• None.

CHARLOTTE, N.C., Sept. 9, 2020 /PRNewswire/ -- Duke Energy is continuing its push to reduce carbon emissions with a new pledge to convert most of its current 10,000-vehicle fleet to electric or another zero-carbon alternative in just 10 years. With approximately 600 electric vehicles (EVs) already in its fleet, the utility says it will continue to pursue electrification as more electric vehicle options become available.

"We've set a bold vision to achieve net-zero carbon emissions from electric generation by 2050. But beyond how we generate power, we're looking at other ways to transform our business to reduce emissions," said Lynn Good, chair, president and CEO. "Electric vehicles are an important part of that strategy. With our new pledge, we're committed to transitioning our fleet and spurring adoption within our communities."

More specifically, Duke Energy's pledge is to convert 100% of its nearly 4,000 light-duty vehicles to electric and 50% of its approximately 6,000 combined fleet of medium-duty, heavy-duty and off-road vehicles to EVs, plug-in hybrids or other zero-carbon alternatives as more of these options become available.

Benefits of EVs include reduced emissions, better performance, less noise and fewer expenses. Customers interested in purchasing an EV can estimate their savings by visiting the Duke Energy fuel savings calculator.

Duke Energy's EV story

Through our EV programs, Duke Energy continues to promote a cleaner environment and provide opportunities for communities to electrify transportation:

• Jurisdictional electrification: The company is pursuing pilot programs for electrification in our jurisdictions:
  
• In late 2018, Duke Energy launched an EV charging-station pilot in Florida called Park and Plug to encourage clean transportation.
  
• Duke Energy has installed 500 charging stations, which have been used more than 13,000 times since the program launched in late 2018.
  
• Approximately 15% of these charging stations have been installed in income-qualified communities.
  
• The project has been consistently ahead of schedule and under budget, proving utility programs can effectively and efficiently deploy needed EV charging infrastructure.
  
• Like its program in Florida, Duke Energy has applied for pilot programs in the Carolinas and Ohio, pending commission approvals.
  
• The active program in Florida and the proposed pilot programs in the Carolinas and Ohio will add approximately 5,700 EV chargers to Duke Energy's service areas, including about 2,200 residential EV chargers.
  
• Employee programs:
• The company is on track to install more than 200 workplace chargers for employees by the end of 2020.
  
• The company offers a rebate of $3,000 to employees who purchase an EV and $1,500 to employees who choose to lease an EV.

Impacts of Duke Energy's fleet conversion

• Duke Energy measures reductions in CO₂ emissions and petroleum annually and will reach the following levels by 2030:
  
• CO₂ emissions: Reduced by 60,000 metric tons per year
  
• Petroleum usage: Reduced by 10 million gallons per year
  
• Will reduce nitrogen oxides (NOx), volatile organic compounds (VOCs) and particulate matter (PM) emissions.

For more information on Duke Energy's comprehensive climate strategy, visit duke-energy.com/climate.

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.

Media contact: Jennifer Sharpe
Office: 704.731.4108
Media line: 800.559.3853

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SOURCE Duke Energy

FAQ

What is Duke Energy's new pledge regarding electric vehicles?

Duke Energy pledges to convert most of its 10,000-vehicle fleet to electric or zero-carbon alternatives by 2030.

How will Duke Energy's fleet conversion impact CO2 emissions?

The fleet conversion is expected to reduce CO2 emissions by 60,000 metric tons annually.

What percentage of Duke Energy's light-duty vehicles will be converted to electric?

Duke Energy aims to convert 100% of its nearly 4,000 light-duty vehicles to electric.

When is Duke Energy expected to complete its fleet electrification?

Duke Energy aims to complete the electrification of its fleet by 2030.

Which regions are involved in Duke Energy's EV initiatives?

Duke Energy is actively working on initiatives in Florida and has proposed pilot programs in the Carolinas and Ohio.