Duke Energy Florida plans 4 new solar energy sites to deliver $1B in customer savings

The company estimates the planned solar sites will deliver $1 billion in customer savings over their operational lifetimes.

Rhea-AI Summary

Duke Energy (NYSE: DUK) subsidiary Duke Energy Florida filed plans to build four solar sites totaling 300 megawatts by mid-2028.

The sites in Orange and Sumter counties are tentatively scheduled to enter service by June 2028. The company estimates $1 billion in customer savings over their operational lifetimes through displaced fuel costs. Construction is expected to begin between January and May 2027.

Duke Energy Florida also plans to build over 1 gigawatt of battery storage over the next 10 years. It is accelerating investment tax credits associated with its Powerline battery site to avoid a scheduled base rate increase and help lower customer bills in 2027.

Positive

• Minor point. Forward-looking: it has not happened yet and may not happen.Solar expansion plans would add 300 megawatts across four sites, tentatively in service by June 2028.
• Minor point. Forward-looking: it has not happened yet and may not happen.New solar sites are estimated to deliver $1 billion in customer savings over their operational lifetimes.
• Minor point. Forward-looking: it has not happened yet and may not happen.Battery storage plans call for over 1 gigawatt over the next 10 years.
• Minor pointProduction tax credits transferred to customers total approximately $75 million per year, reducing monthly bills.
• Minor point. Forward-looking: it has not happened yet and may not happen.Powerline battery tax credits are being accelerated to avoid a scheduled base rate increase and help lower 2027 bills.

Negative

• None.

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ST. PETERSBURG, Fla., Nov. 10, 2026 /PRNewswire/ -- Today, Duke Energy Florida filed plans with the Florida Public Service Commission to build four new solar energy sites by mid-2028. Together, these sites will add 300 megawatts (MW) of clean energy to the electric grid while delivering an estimated $1 billion in customer savings over their operational lifetimes.

Why it matters:

• Duke Energy Florida currently owns, operates and maintains 25 solar energy sites that contribute 1,850 MW to the grid. Each site can power about 15,000 homes, helping meet the rising demand for electricity across the third-fastest-growing state in the nation.
  
  
• Because solar energy sites run off the sun – rather than natural gas, oil or another source – each one can save customers $250 million in displaced fuel costs during the roughly 30 years that it operates.
  
  
• Through the Inflation Reduction Act, Duke Energy Florida also transfers approximately $75 million in production tax credits to customers per year, which reduces their monthly bill by at least $2.50 per 1,000 kilowatt-hours of electricity used – and that amount will only increase as more solar energy sites come on line.
  
  
• From an environmental perspective, the emission-free energy produced at each solar energy site saves about 1.1 million cubic feet of natural gas, 12,000 barrels of fuel oil and 9,000 tons of coal annually.

More details:

The four new solar energy sites will be located in Orange and Sumter counties and will tentatively be in service by June 2028:

• Nova Renewable Energy Center (Orange County)
  
  
  • Expected construction start: January 2027
    
    
  • Expected completion: February 2028
• Bull Creek Renewable Energy Center (Orange County)
  
  
  • Expected construction start: March 2027
    
    
  • Expected completion: April 2028
• Hogeye Renewable Energy Center (Sumter County)
  
  
  • Expected construction start: May 2027
    
    
  • Expected completion: May 2028
• Wewahootee Renewable Energy Center (Orange County)
  
  
  • Expected construction start: May 2027
    
    
  • Expected completion: June 2028

Our view:

"At Duke Energy Florida, our job is to make smart, disciplined investments today that will benefit our customers tomorrow," said Melissa Seixas, Duke Energy Florida state president. "These solar energy sites are just one example of how we're planning for the future and strengthening our system to continue providing safe, reliable power, at the lowest possible price, for years to come."

Expanded impact:

• Duke Energy Florida is enhancing its solar sites through the use of utility-scale batteries that can store energy when demand is low and make it available when customers need it most. That means customers can benefit from solar energy even when the sun is not shining.
  
  
• Over the next 10 years, Duke Energy Florida plans to build over 1 gigawatt of battery storage, which will also allow the company to pass on significant additional savings from investment tax credits directly to customers.
  
  
• Additionally, through an innovative tax strategy, Duke Energy Florida is accelerating the delivery of investment tax credits associated with its seventh battery site – Powerline Battery Energy Storage System in Citrus County – to avoid a scheduled base rate increase and help lower customers' bills in 2027.

Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns 12,500 megawatts of energy capacity, supplying electricity to 2 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida. 

Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.

Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.

More information is available at duke-energy.com. Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook for stories about the people and innovations powering its communities.

Contact: Aly Raschid
24-Hour: 800.559.3853
X: @DE_AlyRaschid

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SOURCE Duke Energy

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much solar capacity is Duke Energy Florida planning to add by 2028?

Duke Energy Florida plans four new solar sites totaling 300 megawatts, tentatively entering service by June 2028. The sites will be located in Orange and Sumter counties, and the company estimates $1 billion in customer savings over their operational lifetimes.

What is the construction schedule for Duke Energy Florida's four new solar sites?

Construction is expected to start in January 2027 at Nova, March 2027 at Bull Creek, and May 2027 at Hogeye and Wewahootee. Expected completion dates are February 2028 for Nova, April 2028 for Bull Creek, May 2028 for Hogeye and June 2028 for Wewahootee.

How do Duke Energy Florida's production tax credits affect customer bills?

Duke Energy Florida transfers approximately $75 million in production tax credits to customers annually, reducing monthly bills by at least $2.50 per 1,000 kilowatt-hours used. The company expects that reduction to increase as more solar sites come online.