Duke Energy Corp - DUK STOCK NEWS

Duke Energy is advancing its renewable energy efforts through its Distributed Generation (DG) team, established in 2018. This team focuses on connecting new renewable energy projects to the grid, mitigating logistics challenges and enhancing grid reliability. The DG team has streamlined the interconnection process by studying projects in clusters, significantly reducing wait times. This initiative supports Duke Energy's goal of transitioning to cleaner energy sources and retiring coal-fired facilities. Their work includes implementing advanced microgrids and battery storage solutions, aiming for net-zero carbon emissions by 2050.

The Duke Energy Foundation, funded by Duke Energy shareholders, has awarded $180,000 in emergency preparedness and resiliency grants to 13 organizations in Florida. This initiative aims to equip Floridians and first responders with necessary information and supplies for storm season. Allocations include $25,000 each to the Area Agency on Aging of Pasco-Pinellas, Florida Housing Coalition, and Florida Professional Firefighters Association, among others. Duke Energy emphasizes the importance of year-round community preparedness and has supported Florida's disaster readiness with over $1.7 million since 2019. The Foundation encourages personal preparedness through resources like the Red Cross Emergency app.

On June 24, 2024, Coastal Conservation Association Florida (CCA Florida), alongside Duke Energy, Florida Fish and Wildlife Conservation Commission (FWC), and the University of Florida (UF) Whitney Lab, advanced the Indian River Lagoon (IRL) Billion Clam Initiative by deploying 2 million clams using patented drone technology. This innovative method aims to restore the IRL's ecosystem by planting clams at specific locations and densities, accelerating their maturation and overcoming predation pressures.

Since 2017, the initiative has planted 40 million clams, and in October 2023, CCA Florida and Duke Energy donated $100,000 to support the project. The effort is expected to improve water quality and clarity by utilizing clams' natural filtering abilities, which in turn supports the growth of essential seagrasses. Duke Energy's Crystal River Mariculture Center has also contributed significantly, releasing nearly 5 million fish and crustaceans and donating $200,000 worth of aquatic vegetation for various habitat restoration projects across Florida.

Duke Energy announced $500,000 in grants through its Emergency Preparedness and Storm Resiliency Grant Program to support 33 nonprofits and government agencies in South Carolina. These grants will fund training, life-saving equipment, and new technology to enhance disaster planning and recovery operations. The initiative aims to strengthen community preparedness and resilience against severe weather events. Each organization could receive up to $20,000, and the funds will help improve sheltering capabilities, purchase emergency response tools, and enhance communication during power losses.

This philanthropic effort is part of Duke Energy's broader mission to support the communities it serves, which includes significant investments in cleaner energy and grid upgrades. Duke Energy, a leading energy holding company, serves millions of customers across several states and is committed to achieving net-zero emissions by 2050.

The Duke Energy Foundation is offering $700,000 in grants to North Carolina nonprofits for natural disaster preparedness. Eligible organizations can apply for up to $25,000 now through July 12, with a registration deadline of June 28. Projects eligible for funding include local disaster preparedness initiatives, storm preparedness training, emergency communication tools, and specialized training for first responders. Since 2019, the Foundation has awarded nearly $2.4 million in similar grants. Duke Energy serves 8.4 million electric and 1.7 million natural gas customers across several states and is committed to achieving net-zero carbon emissions by 2050.

The Department of Defense (DOD) has joined Duke Energy's (NYSE: DUK) Green Source Advantage (GSA) program, committing to provide renewable energy for its five largest military installations in North and South Carolina. The agreement will deliver an estimated 135 megawatts and approximately 4.8 million megawatt-hours of renewable energy over 15 years through two new solar facilities in South Carolina, managed by energyRe. These projects are expected to be operational by Q4 2026. This initiative supports the DOD's decarbonization targets under Executive Order 14057, aiming for 100% carbon-free electricity by 2030. Duke Energy's GSA program helps large nonresidential customers offset power purchases with renewable energy sources. Other GSA participants include the City of Charlotte, Bank of America, and Duke University. Duke Energy, a Fortune 150 company, serves 8.4 million electric customers and 1.7 million gas customers across several states, focusing on a clean energy transition to achieve net-zero carbon emissions by 2050.

Duke Energy's grid technician, Thomas Doan, plays a critical role in maintaining and expanding the company's smart-thinking grid, which prevented over 1.5 million customer outages in 2023 across six states.

Doan's contributions include maintaining remote connectivity to substations and line equipment, facilitating faster power restoration. His personal journey, as a Vietnamese refugee, deeply influences his career and perspectives.

Doan's story highlights the importance of diversity and inclusion, celebrated during Asian American and Pacific Islander (AAPI) Heritage Month by Duke Energy. An active member of the company's Asian Inclusion Network (AIN), Doan emphasizes the educational and recruitment benefits of such Employee Resource Groups (ERGs).

Vice President Sharene Pierce underscores that an inclusive workplace fosters innovation and better service strategies.

Duke Energy has allocated an additional $100,000 through its Share the Light Fund to assist low-income Indiana residents with home energy costs during the summer. This initiative is part of a broader effort that has provided over $3 million in aid to more than 10,000 households over the past five years. Customers struggling to pay their energy bills can apply for up to $300 in financial assistance. The company also offers various programs to help manage energy costs, including usage alerts, free home energy assessments, budget billing, and interest-free payment plans. Duke Energy Indiana, serving approximately 900,000 customers, is the largest electric supplier in Indiana.

Duke Energy Florida is launching several initiatives to help customers manage their energy consumption and save money during the hot summer months. These include a variety of programs and tools, such as the Usage Alerts, which provide mid-cycle billing updates, and the EnergyWise Home program, offering up to $141 in annual bill credits. Additionally, Duke Energy is promoting their Time-of-Use rate plan, Home Energy Check program, and Weatherization Program for income-qualified customers. The company emphasizes the importance of using energy-efficient practices and offers several tips, such as regularly servicing HVAC systems and using smart thermostats. Duke Energy Florida serves over 2 million customers and is part of Duke Energy, which aims for net-zero carbon emissions by 2050.