Dte Energy Co Stock Price, News & Analysis

DTE Energy has launched a new solar array at the Ford Research & Engineering Center, featuring 2,159 panels. This array, equipped with a battery storage system, will produce 1,127 megawatt hours of clean energy, equivalent to avoiding 880 tons of CO2 emissions. DTE plans to double its renewable energy capacity by 2023, aiming for net-zero carbon emissions by 2050. This marks the third collaboration with Ford, which is also part of DTE's MIGreenPower program, emphasizing both companies' commitment to sustainability.

DTE Energy has launched the DTE Smart Charge program, collaborating with EV manufacturers like General Motors and Ford to optimize EV charging in Michigan. This initiative aims to balance grid demand while supporting DTE's goal of achieving net zero carbon emissions by 2050. The program invites 1,000 volunteer EV owners to participate and earn up to $100 in gift cards. Participants can opt out during peak usage events, helping improve grid reliability as EV adoption increases. The program operates using the Open Vehicle Grid Integrated Platform for effective energy management.

DTE Energy reported a strong first quarter in 2021, earning $397 million, or $2.05 per diluted share, up from $340 million, or $1.76 per diluted share in 2020. Operating earnings increased to $473 million, or $2.44 per diluted share. DTE was recognized as a Gallup Great Workplace for the ninth consecutive year and issued a $1 billion green bond for renewable energy investments. The company also reaffirmed its 2021 operating EPS guidance of $6.88 - $7.26, with plans for a midstream spin-off expected mid-year, aiming to enhance shareholder value.

Bedrock, Detroit's largest real estate developer, has partnered with DTE Energy to reduce carbon emissions by acquiring approximately 22 million kWh of Michigan-made clean energy annually through DTE's MIGreenPower program. Starting in 2023, this initiative is expected to offset around 15,500 metric tons of carbon dioxide per year. Bedrock aims to enhance sustainability in its projects, including the Book Tower renovation, and contribute to the International 2030 District's goals of significant carbon footprint reduction. This commitment aligns with Bedrock's broader sustainability strategy.

DTE Energy (NYSE:DTE) has launched three new wind parks in Michigan, enhancing its capacity to generate over 1,760 megawatts of clean energy, sufficient for 670,000 homes. The Isabella I and II parks are now the state's largest, featuring 136 turbines with a combined capacity of 383 megawatts, while Fairbanks Wind adds 72 megawatts from 21 turbines. These projects are part of DTE's MIGreenPower program, which encourages renewable energy use among local businesses and residents. DTE plans six more projects by 2022, increasing its capacity to 2,700 megawatts and supporting 900,000 homes.

Motor City Electric Co. has enrolled in DTE Energy’s MIGreenPower program, committing to match 60% of its energy use to clean energy projects at its Detroit and Ann Arbor facilities. This initiative aims to offset 613 tons of CO2 emissions, equivalent to the emissions from driving a passenger car 840,000 miles. The move reaffirms Motor City Electric's dedication to sustainability while supporting local jobs associated with wind and solar project development. The MIGreenPower program, launched in 2017, now includes over 300 businesses and is among the top three voluntary renewable energy programs in the U.S.

DTE Energy has partnered with Bluesource on the Greenleaf Improved Forest Management project in Michigan's Upper Peninsula. This initiative covers 24,000 acres of forest across 14 counties and aims to offset customer greenhouse gas emissions through DTE's Natural Gas Balance program. The partnership is expected to help preserve natural habitats and waterways while contributing to DTE's goal of achieving net-zero carbon emissions by 2050, potentially reducing over 6 million metric tons of emissions annually.