Welcome to our dedicated page for Duke Energy Corporation news (Ticker: DUK), a resource for investors and traders seeking the latest updates and insights on Duke Energy Corporation stock.
Duke Energy Corporation (NYSE: DUK) is one of the largest energy holding companies in the United States, headquartered in Charlotte, N.C. The company operates across three main business segments: electric utilities and infrastructure, gas utilities and infrastructure, and commercial renewables. With electric utilities serving approximately 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky, Duke Energy owns a diverse energy portfolio with a capacity of 54,800 megawatts. The gas utilities division provides natural gas to around 1.7 million customers in the Carolinas, Ohio, Kentucky, and Tennessee.
Duke Energy is at the forefront of the transition to clean energy. The company has committed to achieving net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. This goal is supported by ongoing investments in electric grid upgrades, energy storage, renewable energy sources, natural gas, and advanced nuclear technologies.
The company's commercial renewables segment develops and operates renewable energy projects across the United States, contributing to a growing portfolio that supports a sustainable energy future. Duke Energy’s initiatives include the implementation of innovative programs like PowerPair, which incentivizes residential customers in North Carolina to install home solar and battery systems, enhancing the reliability and affordability of clean energy solutions.
Recent milestones for Duke Energy include the approval of the PowerPairSM incentive-based pilot program, expansion of demand response programs in North Carolina, and strategic divestitures such as selling its 50% stake in Pioneer Transmission LLC. These actions reflect the company's strategy to optimize its asset portfolio and reinvest in its clean energy objectives.
Duke Energy also fosters strategic partnerships to enhance its clean energy transition. Collaborations with major companies like Amazon, Google, Microsoft, and Nucor aim to explore new approaches for carbon-free energy generation and innovative financing structures through programs like the Accelerating Clean Energy (ACE) tariffs. These partnerships are designed to support large businesses in achieving their sustainability goals while contributing to overall grid decarbonization.
Beyond its business operations, Duke Energy is a key economic contributor to the communities it serves. The company's commitment includes substantial tax contributions, local investments, and support for charitable causes through the Duke Energy Foundation. Employees are actively engaged in community service, further reinforcing the company’s integral role in local development and social responsibility.
With a strong dedication to innovation, sustainability, and community engagement, Duke Energy continues to lead the energy sector towards a cleaner, more reliable, and sustainable future.
Duke Energy Indiana has launched a solar energy facility at Toray Resin Company's Shelbyville campus, generating up to 900 kilowatts of electricity. This solar project marks the initiation of Duke Energy's pilot program aimed at facilitating the adoption of renewable energy for businesses, schools, and nonprofits. The facility consists of 2,487 solar panels and is designed to support Toray's manufacturing operations while minimizing upfront costs. The solar services program offers eligible customers a lease option for on-site solar systems, with an initial capacity limit of 10 megawatts.
Duke Energy, based in Charlotte, N.C., is responding to the forecast of above-average temperatures in the Carolinas by offering energy-saving tips to help customers manage their energy use and bills. The company assures it has the resources to provide reliable service. Suggestions include changing air filters, adjusting thermostat settings, and utilizing smart meters to track usage. Duke Energy is committed to a clean energy transition, aiming for net-zero carbon emissions by 2050.
Duke Energy, based in Charlotte, N.C., has appointed Amy Strecker as the president of the Duke Energy Foundation, effective Sept. 1. The foundation annually contributes over $30 million to community philanthropic efforts and will focus on a holistic strategy that aligns with the company’s clean energy transition goals. Strecker, who joined Duke Energy in 2010, aims to enhance community engagement through the foundation's pillars of vibrant economies, climate resilience, and equity. This leadership aims to integrate philanthropy with business objectives to better serve local communities.
Siemens Energy and Duke Energy have achieved the GUINNESS WORLD RECORDS title for the most powerful simple cycle gas power plant, producing an output of 410.9 megawatts at the Lincoln Combustion Turbine Station in North Carolina.
The SGT6-9000HL turbine, designed for high efficiency and flexibility, supports the integration of renewable energy sources. With an efficiency improvement of 34% over existing turbines, this development aligns with Duke Energy's commitment to a clean energy transition, targeting net-zero carbon emissions by 2050.
Duke Energy is allocating an additional $100,000 for energy bill assistance in Indiana, allowing qualifying customers to receive up to $300 annually. This funding supports over 1,100 households this year, with a total of $260,000 distributed to date. The assistance is administered through the Share the Light Fund, in partnership with the Indiana Community Action Association. Additionally, interest-free payment plans for eligible customers have been extended from three to six months, providing more resources for those facing financial challenges.
Duke Energy Florida has announced the completion of two new lithium-ion battery storage sites in Alachua and Hamilton counties. The sites, with capacities of 8.25 MW and 5.5 MW, aim to enhance grid reliability and efficiency, directly benefiting local customers. This initiative is part of a broader commitment involving a $2 billion investment in solar generation, targeting 25 solar power plants to deliver 1,500 MW of emission-free energy by 2024. Duke Energy continues to lead in clean energy technology, emphasizing the importance of energy storage in future energy delivery.
Duke Energy (NYSE: DUK) has launched the utility industry's first sustainable commercial paper notes, aiming to support diverse suppliers and socioeconomic advancement. The company plans to allocate net proceeds to eligible projects, including giving opportunities to certified minority and women-owned businesses. Duke Energy expects to have between $300 million and $650 million of these notes outstanding over the next year. This initiative aligns with the company's goal of reducing carbon emissions by at least 50% by 2030 and achieving net-zero emissions by 2050.
Duke Energy is launching a pilot program in Florida to explore the use of Ford F-150 Lightning electric trucks as a grid resource. The program will test vehicle-to-grid (V2G) capabilities, allowing the trucks to supply power to homes and the grid during outages and peak demand periods. This initiative includes adding five trucks to Duke's fleet for extensive research on their battery performance and integration with solar energy systems. Duke aims to benefit customers and enhance the grid's efficiency while supporting its goals for clean energy transition by 2030 and net-zero carbon emissions by 2050.
Duke Energy has partnered with Ford to launch a demand response pilot program in North Carolina, leveraging the Ford F-150 Lightning's batteries to enhance the electric grid's reliability. Scheduled for 2023, the program will incentivize up to 100 participants by reducing lease payments for eligible EVs. Customers will allow their vehicles to return energy to the grid during peak times, thereby supporting energy balance. This initiative aims to promote a sustainable grid and is part of Duke Energy's broader goal of achieving net-zero emissions by 2050.
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