Duke Energy partners with five other utilities to push for more electric vehicle charging for customers

Rhea-AI Summary

Six major utilities, including Duke Energy (DUK), have formed the Electric Highway Coalition to enhance electric vehicle (EV) charging access across the South, Midwest, Gulf, and Central Plains regions. This initiative aims to install a network of DC fast chargers to alleviate range anxiety for EV drivers, facilitating long-distance travel. Duke Energy is also launching internal programs to expand charging infrastructure, including a $25 million pilot in North Carolina for 200 charging stations and an expansion in Florida with over 570 stations already deployed.

Positive

• Formation of the Electric Highway Coalition to enhance EV charging access.
• Investment of $25 million in North Carolina for EV charging infrastructure expansion.
• Successful deployment of over 570 EV charging stations in Florida.

Negative

• None.

CHARLOTTE, N.C., March 2, 2021 /PRNewswire/ -- Six major utilities today announced a plan to ensure electric vehicle (EV) drivers have access to a seamless network of charging stations connecting major highways in the South, Midwest, Gulf and Central Plains regions.

The Electric Highway Coalition – made up of Duke Energy, American Electric Power, Dominion Energy, Entergy Corporation, Southern Co., and the Tennessee Valley Authority – will enable EV drivers seamless travel across a broad portion of the country through a network of DC fast chargers.

"The path to cleaner transportation is a robust charging infrastructure along the nation's major highways," said Lang Reynolds, director of Electrification Strategy for Duke Energy. "Range anxiety is a barrier to more EV adoption. This coalition can erase those obstacles and help deliver the benefits of EV ownership to consumers."

The companies are each taking steps to provide EV fast charging options within their service territories to facilitate interstate travel. This partnership represents an unprecedented effort to offer EV drivers convenient charging across different company boundaries and allow travel without interruptions.

The Edison Electric Institute estimates 18 million EVs will be on U.S. roads by 2030.  While many drivers recognize the benefits of driving an EV, such as the ease of low-cost home charging, some are concerned with the availability of charging stations during long road trips. Coordinated efforts like this are demonstrating that EVs are a smart choice for driving around town as well as traveling long distances.

For Duke Energy, specific fast charging station locations will be determined through the course of existing and planned fast charging program deployments. This effort will provide drivers with effective, efficient, and convenient charging options that enable long-distance electric travel. Sites along major highway routes, with easy highway access and amenities for travelers are being considered first.

Charging stations will provide a high-powered fast charging experience as new EV models released on the market are capable of charging at faster and faster speeds.

Supporting the transition to EVs

The collaboration is good timing for Duke Energy, which has already launched ambitious programs to expand EV charging both internally at Duke Energy locations and externally through several utility pilot programs. An internal "Electrify By Example" initiative is starting with an effort to install workplace chargers at all work locations to enable employees to drive electric.

In Florida, the company's Park and Plug pilot has installed more than 570 EV public charging stations throughout the state. Fifty of the 570 are fast charging stations connecting areas of Florida previously underserved by EV fast charging infrastructure. To date, drivers have used the Park and Plug network for over 60,000 charging sessions, displacing more than 90,000 gallons of gasoline.

Regulatory action in 2020 led to pilot programs being approved in both North Carolina and South Carolina. The pilots will lead to full fast charging for all types of EVs in about 20-30 minutes.

In North Carolina, a $25 million pilot program will lead to the installation of 200 public Level 2 and fast charging stations, additional stations at multifamily buildings and a school bus electrification pilot that will allow school districts to change out diesel buses with electric ones.

In South Carolina, the company will provide up to a total of $1,000 for 400 residential Duke Energy Carolinas customers who install a Level 2 charging station, provide access to their charging data, and manage EV charging load to occur during off-peak periods. The company will also deploy 60 fast chargers there to expand access to fast charging infrastructure in the state.

About 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.

Cautionary Language Concerning Forward-Looking Statements.

This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact: Randy Wheeless 
24-Hour: 800.559.3853
Twitter: @DE_RandyW

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SOURCE Duke Energy

FAQ

What is the Electric Highway Coalition involving Duke Energy (DUK)?

The Electric Highway Coalition is a partnership of six utilities, including Duke Energy, to install a network of DC fast chargers for EV drivers across several U.S. regions.

What initiatives has Duke Energy (DUK) launched to support electric vehicles?

Duke Energy has initiated programs like the 'Electrify By Example' to enhance workplace charging and a $25 million pilot program in North Carolina for additional charging stations.

How many EV charging stations has Duke Energy (DUK) installed in Florida?

Duke Energy has installed over 570 EV public charging stations in Florida, with 50 being fast chargers in underserved areas.

What is the expected number of EVs on U.S. roads by 2030 according to Duke Energy (DUK)?

The Edison Electric Institute estimates that there will be 18 million EVs on U.S. roads by 2030.