Duke Energy launches $500,000 grant opportunity for organizations supporting western North Carolina recovery efforts

Rhea-AI Summary

Duke Energy (NYSE: DUK) has announced a new $500,000 grant opportunity to support organizations leading long-term recovery efforts in western North Carolina following Hurricane Helene. Eligible organizations can apply for grants up to $25,000 through Feb. 17, 2025.

This initiative builds upon Duke Energy's previous $2.2 million commitment for disaster relief, rebuilding, and readiness efforts in North Carolina. The Duke Energy Foundation, funded by shareholders, provides over $30 million annually in philanthropic support.

Duke Energy serves 8.4 million electric utility customers across six states and 1.7 million natural gas customers across five states. The company is pursuing clean energy goals, including net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050.

Positive

• Large customer base with 8.4M electric and 1.7M natural gas customers
• Strong commitment to clean energy transition with clear net-zero targets
• Substantial philanthropic presence through $30M annual foundation funding

Negative

• None.

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• Western North Carolina-based organizations encouraged to apply for a $25,000 grant before Feb. 17
• Announcement builds on previous $2.2 million commitment for disaster relief, rebuilding and readiness

CHARLOTTE, N.C., Jan. 27, 2025 /PRNewswire/ -- Duke Energy today announced the launch of a new grant opportunity, offering $500,000 in funding to support organizations leading long-term recovery efforts in western North Carolina. Through Feb. 17, eligible organizations can apply for grants up to $25,000 from the Duke Energy Foundation.

"We understand the long-term challenges our communities in western North Carolina face as they continue to rebuild following Hurricane Helene," said Kendal Bowman, Duke Energy North Carolina state president. "This new grant opportunity underscores our unwavering commitment to supporting a full recovery in the mountain region."

The announcement builds on Duke Energy's previous commitment of more than $2.2 million to support disaster relief, rebuilding and readiness efforts in North Carolina. Duke Energy President and incoming CEO Harry Sideris recently published an update on the company's recovery efforts in the state's mountain region, sharing his personal connection to Asheville and the importance of sustained support for communities affected by Helene. 

Organizations interested in applying for funding can find detailed information and application guidelines on Duke Energy's website here. Western North Carolina-based nonprofit organizations supporting local and regional long-term recovery efforts may apply for up to $25,000. The application is available now, and applications will be accepted until Feb. 17, 2025, at 5 p.m.

Duke Energy Foundation 

The Duke Energy Foundation provides more than $30 million annually in philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation is funded by Duke Energy shareholders.

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 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and nuclear.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

Contact: Garrett Poorman
X (Twitter): @DE_GarrettP
24-Hour: 800.559.3853

 

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SOURCE Duke Energy

FAQ

What is the value of Duke Energy's (DUK) new grant program for western North Carolina?

Duke Energy has launched a $500,000 grant program, offering individual grants up to $25,000 for organizations supporting western North Carolina recovery efforts.

When is the deadline to apply for Duke Energy's (DUK) western NC recovery grants?

The deadline to apply for the grants is February 17, 2025, at 5 p.m.

How much has Duke Energy (DUK) previously committed to NC disaster relief?

Duke Energy had previously committed more than $2.2 million to support disaster relief, rebuilding and readiness efforts in North Carolina.

What are Duke Energy's (DUK) clean energy transition targets?

Duke Energy aims to achieve net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050.

How many customers does Duke Energy (DUK) serve across its utilities?

Duke Energy serves 8.4 million electric utility customers and 1.7 million natural gas customers across multiple states.