Duke Energy's resource plan builds on work already underway that supports South Carolina's growth while delivering value to customers

Rhea-AI Summary

Duke Energy (NYSE: DUK) submitted its 2026 Carolinas Resource Plan to the Public Service Commission of South Carolina on Aug. 14, outlining how it will meet the state's fast‑growing energy demand. The plan emphasizes maximizing existing assets while adding diverse resources, including natural gas, solar, storage and potential future nuclear generation.

Key actions include a 1,400 MW combined cycle facility in Anderson County, an RFP for 400 MW of standalone storage, continued solar build‑out, and expanded Grid Edge programs. Duke Energy targets more than $5 billion in customer cost-saving benefits from tax credits and the approved combination of Duke Energy Carolinas and Duke Energy Progress, and has applied for U.S. DOE loans that could provide additional customer savings. A PSCSC hearing is scheduled for April 2027, with an order expected by June 2027.

Positive

• Planned customer cost savings exceeding $5 billion from tax credits and the combination of Duke Energy Carolinas and Duke Energy Progress
• 1,400 MW new combined cycle facility in Anderson County approved by regulators
• 400 MW standalone battery storage RFP underway in South Carolina, alongside storage projects already in service
• Ongoing solar procurement and construction, including completed facilities and projects under construction
• License renewals and uprates for existing nuclear assets to maximize zero‑emission generation
• Applications for U.S. DOE loans that could translate into potentially billions of dollars in additional customer savings

Negative

• Regulatory decision timeline extends to June 2027, delaying final certainty on the resource plan
• Customer savings from U.S. DOE loans are not guaranteed, as the loan applications are still pending
• Execution depends on multiple large capital projects in natural gas, storage and solar, which must be delivered over several years

News Explained

The August 14 submission is a planning proposal, not approval of the overall plan: Duke says the 1,400-MW Anderson County facility is approved and turbine supply agreements are executed, while the 400-MW storage item remains an RFP.

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• Plan balances reliability, diverse resources and costs while helping communities in the Carolinas continue to build robust economies
  
  
• Near-term actions serve our customers' rising energy needs while keeping customer benefits, value and future optionality central to resource planning

GREENVILLE, S.C., Aug. 17, 2026 /PRNewswire/ -- South Carolina is one of the fastest-growing states in the nation, attracting new residents, major employers and billions of dollars in economic investment. Meeting the state's energy needs requires a reliable energy system that can support thriving communities while keeping costs as low as possible for customers.

Duke Energy's 2026 Carolinas Resource Plan – submitted Aug. 14 to the Public Service Commission of South Carolina (PSCSC) – reflects execution already underway and highlights new opportunities to power South Carolina's future.

• The strategy is designed to maximize the value of existing assets while making prudent investments in additional diverse resources needed to serve the state's growing population and economy.
  
  
• Through an execution-informed planning approach, Duke Energy will continue adjusting to changing conditions while maintaining its focus on delivering safe, reliable and affordable energy for Palmetto State customers.

Our view: "South Carolina's success depends on having the energy infrastructure in place to support new residents, new businesses and new or expanding industries," said Tim Pearson, Duke Energy's South Carolina president. "We've made significant progress executing the strategy outlined in previous resource plans, and this updated roadmap builds on that momentum and details the additional actions we need to take now to keep the Carolinas powered reliably and affordably as the region grows."

A plan for South Carolina: Consistent with previous resource plans and supportive of South Carolina energy policy goals under the 2025 Energy Security Act (Act 41), the latest plan advances new generation, new energy storage and renewables opportunities, evaluates future nuclear generation options, maximizes energy efficiency and maintains flexibility to adapt as customer needs, technology and market conditions evolve.

What's in the plan?

Key elements include:

• Natural Gas: Natural gas is a major near-term reliability resource, with efficiency upgrades completed, multiple combined cycle (CC)/combustion turbine (CT) projects advancing, approval for a 1,400 megawatt (MW) new combined cycle facility in Anderson County secured, and turbine supply agreements executed with delivery beginning from GE Vernova in Greenville.
  
  
• Storage: The company is scaling battery storage execution, with storage projects in service, equipment secured, interconnection activity underway, and an RFP for 400 MW of standalone storage in South Carolina.
  
  
• Solar: Solar procurement and construction remain active, including completed facilities, projects under construction, and RFPs for solar and solar paired with storage.
  
  
• Nuclear: Existing nuclear assets continue to be maximized through license renewals, uprates, and fuel-cycle work, while the company evaluates potential new nuclear options and considers sites in Cherokee County, S.C., and Stokes County, N.C.
  
  
• Grid Edge: Grid Edge programs are treated as a core execution tool to reduce, shift, and shape demand through energy efficiency, demand-side management, load curtailment, customer programs, and storage demand response.

To explore more details of the 2026 Carolinas Resource Plan, visit duke-energy.com/CarolinasResourcePlan.

Our view: "As South Carolina continues to grow, we're continuing our investment not only in new energy resources, but also in programs and technologies that help customers use energy more efficiently and save money," Pearson said. "From energy-efficiency programs to demand-response initiatives and our grid modernization strategy, this plan provides customers with more value while ensuring we have the reliable energy infrastructure needed to support the state's future."

Maximizing value for customers: Duke Energy continues to use every tool available to manage costs for our customers while delivering the high quality of service they expect.

• Through its proposed resource mix, the company is maximizing the value that tax credits provide customers and finalizing the recently approved combination of Duke Energy Carolinas and Duke Energy Progress – efforts that together will deliver more than $5 billion in cost-saving benefits to the customers and communities the company serves.
  
  
• Duke Energy has also applied for loans from the U.S. Department of Energy (DOE) that represent potentially billions of dollars in customer savings as the company strengthens the electric grid.

What's next: The PSCSC will hold a hearing on the resource plan in April 2027 and issue an order by June 2027. 

Duke Energy Carolinas
Duke Energy Carolinas, a subsidiary of Duke Energy, owns 20,800 megawatts of energy capacity, supplying electricity to 2.9 million residential, commercial and industrial customers across a 24,000-square-mile service area in North Carolina and South Carolina. 

Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns 13,800 megawatts of energy capacity, supplying electricity to 1.8 million residential, commercial and industrial customers across a 28,000-square-mile service area in North Carolina and South Carolina.

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.

Media Contact: Ryan Mosier

24-Hour: 800.559.3853

 

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SOURCE Duke Energy

FAQ

What is Duke Energy's 2026 Carolinas Resource Plan for South Carolina (NYSE: DUK)?

Duke Energy's 2026 Carolinas Resource Plan is a roadmap to meet South Carolina’s growing energy demand using diverse resources. According to Duke Energy, it emphasizes existing asset optimization, new natural gas, solar, storage, nuclear options, and Grid Edge programs while managing customer costs and reliability.

How much customer cost savings does Duke Energy (DUK) expect from its Carolinas plan?

Duke Energy expects more than $5 billion in cost-saving benefits for customers and communities. According to Duke Energy, these savings come from maximizing tax credits and completing the approved combination of Duke Energy Carolinas and Duke Energy Progress across the Carolinas region.

What new generation projects are included in Duke Energy's South Carolina resource plan (DUK)?

The plan includes multiple combined cycle and combustion turbine projects, plus a 1,400 MW combined cycle facility in Anderson County. According to Duke Energy, it also continues solar procurement and construction, nuclear uprates, and evaluates potential new nuclear sites in Cherokee County, SC, and Stokes County, NC.

How does Duke Energy's 2026 Carolinas plan address battery storage in South Carolina?

The plan scales up battery storage with projects already in service, equipment secured and interconnection work underway. According to Duke Energy, it also features an RFP for 400 MW of standalone storage in South Carolina to support reliability and integrate more renewables.

What role does natural gas play in Duke Energy's South Carolina strategy (NYSE: DUK)?

Natural gas is described as a major near-term reliability resource in the plan. According to Duke Energy, efficiency upgrades are completed, several combined cycle and combustion turbine projects are advancing, and turbine supply agreements have been executed with GE Vernova for future deliveries.

When will regulators decide on Duke Energy's 2026 Carolinas Resource Plan for South Carolina?

The Public Service Commission of South Carolina plans a hearing on the resource plan in April 2027. According to Duke Energy, the commission is expected to issue an order by June 2027, providing regulatory direction on the proposed resource mix.

How does Duke Energy's 2026 Carolinas plan use Grid Edge and demand-side programs for DUK customers?

Grid Edge programs are treated as core tools to reduce, shift and shape electricity demand. According to Duke Energy, they include energy efficiency, demand-side management, load curtailment, customer programs and storage demand response, all aimed at lowering costs and improving system reliability for customers.