Green Source Advantage offers more renewable energy options for South Carolina customers

Rhea-AI Summary

Duke Energy's Green Source Advantage program has been approved by the Public Service Commission of South Carolina, expanding renewable energy options for large customers. This program allows customers to negotiate price terms with renewable suppliers while retaining renewable energy certificates. The application window opens March 29, 2021, and is available until 200 megawatts are subscribed, with 35 megawatts reserved for local governments. Duke Energy aims to reduce carbon emissions by at least 50% by 2030, following a 40% reduction since 2005.

Positive

• Expansion of renewable energy options with Green Source Advantage program.
• Increased flexibility for large customers to negotiate with renewable suppliers.
• Duke Energy's commitment to reduce carbon emissions by at least 50% by 2030.

Negative

• None.

GREENVILLE, S.C., Feb. 23, 2021 /PRNewswire/ -- The Public Service Commission of South Carolina (PSCSC) has approved Duke Energy's Green Source Advantage program in South Carolina, enabling the company to expand renewable energy options for customers. View the PSCSC order here. 

The Green Source Advantage program builds on similar programs that Duke Energy has offered to large customers since 2014. The program offers large customers the flexibility of selecting and negotiating all price terms directly with a renewable supplier of their choice as well as retaining renewable energy certificates (RECs) generated by the renewable facility. The customer and renewable energy supplier can also agree on the contract length that is right for them.

"This program offers a viable, expedient and cost-effective path for large customers seeking to advance their renewable energy and sustainability goals," said Michael Callahan, Duke Energy's South Carolina president. "Green Source Advantage will help them meet these goals on their terms."

The application window for the program opens March 29 at 9 a.m. on a first-come, first-served basis. Visit duke-energy.com/scgreensource for application details and eligibility requirements.

The program will be available until the total capacity of 200 megawatts (MW) is fully subscribed. Of this 200-MW capacity, 35 MW will be set aside for local government and university customers for nine months.

The remaining 165 MW will be reserved for large nonresidential customers – 125 MW for Duke Energy Carolinas and 40 MW for Duke Energy Progress.

Duke Energy Carolinas serves more than 600,000 customers primarily in the Upstate region of South Carolina. Duke Energy Progress serves more than 170,000 primarily in the Pee Dee region of the state.

Collaborating to expand renewables in the Palmetto State

Green Source Advantage is yet another win for South Carolina customers and is a direct result of historic collaborative efforts in recent years.

Act 236 – landmark legislation passed in 2014 – provided a framework for customers to install solar on their homes and businesses through strategic programs like the net metering incentive and rebate offerings. The company has provided more than $65 million in rebates as an extra incentive for customers who wanted to go solar across its South Carolina footprint. The company also created shared solar programs in the state - allowing customers to participate in the benefits of renewable energy without installing solar panels at their home or business.

In 2019, Act 62 further enabled programs like the Green Source Advantage and shared solar. The law also encouraged continued collaboration by utilities with leading solar providers, environmental groups and renewable energy advocates that, if approved by regulators, will create long-term stability for the residential solar industry in South Carolina through what could be the next generation of net energy metering for the Carolinas.

This continued push for increased access to renewables in South Carolina fits well with the company's announced plans to reduce its carbon footprint. Duke Energy has reduced carbon emissions from electricity generation by more than 40% since 2005, and the company is working toward lowering carbon emissions at least 50% by 2030 and achieving net-zero carbon emissions by 2050.

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 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 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 7.8 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 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' "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: Ryan Mosier
800.559.3853

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SOURCE Duke Energy

FAQ

What is Duke Energy's Green Source Advantage program?

The Green Source Advantage program allows large customers in South Carolina to negotiate terms with renewable energy suppliers while retaining renewable energy certificates.

When does the application window for the Green Source Advantage program open?

The application window opens on March 29, 2021, at 9 a.m.

How much capacity is available under the Green Source Advantage program?

The program has a total capacity of 200 megawatts, with 35 megawatts reserved for local governments.

What are Duke Energy's carbon reduction goals?

Duke Energy aims to reduce carbon emissions by at least 50% by 2030 and achieve net-zero emissions by 2050.

How long has Duke Energy been offering renewable energy programs?

Duke Energy has offered similar renewable energy programs since 2014.