New Duke Energy program helps South Carolina nonresidential customers lower costs while supporting a growing grid

Duke Energy (NYSE:DUK) received approval to launch the PowerShare Storage nonresidential demand response program in South Carolina.

Rhea-AI Summary

Duke Energy (NYSE:DUK) received approval to launch the PowerShare Storage nonresidential demand response program in South Carolina. The program uses customer-sited energy storage as a flexible grid resource and offers bill credits to commercial, industrial, government and other nonresidential participants.

Incentives include a one-time connectivity credit of $120/kW, an additional $30/kW credit for systems charged with renewable energy, a monthly capacity credit of $3.50/kW (minus verified losses) and an energy curtailment credit of $0.10/kWh during events. Duke Energy plans to begin operating PowerShare Storage in August 2026.

Positive

• One-time connectivity incentive of $120 per kW for qualifying systems
• Additional renewable charging bonus of $30 per kW
• Monthly capacity credit of $3.50 per enrolled kW (loss-adjusted)
• Curtailment credit of $0.10 per kWh during program events
• Program start targeted for August 2026 in South Carolina
• Regulator approval enables new nonresidential demand response revenue opportunity

Negative

• None.

Argus May 27 session

+0.30% close to close Open Argus

Details

News Market Reaction – DUK

In the May 27 session, DUK gained 0.30%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights Duke Energy’s PowerShare Storage program, adding nonresidential custome...

Analysis

This announcement highlights Duke Energy’s PowerShare Storage program, adding nonresidential customers to its storage-based demand response portfolio with incentives such as $120 per kilowatt connectivity credits and $3.50 per kilowatt monthly capacity payments. It builds on participation from nearly 500,000 existing demand response customers in the Carolinas and supports grid reliability as regional load grows. Investors may watch adoption levels, regulatory follow-through, and how this integrates with Duke’s broader grid modernization and storage build-out.

Key Figures

Demand response participants: 500,000 customers Connectivity credit: $120 per kilowatt Renewables bonus credit: $30 per kilowatt +5 more

Demand response participants

500,000 customers

Current participation in Carolinas demand response programs

Connectivity credit

$120 per kilowatt

One-time credit for qualifying systems meeting connection requirements

Renewables bonus credit

$30 per kilowatt

Additional one-time credit for batteries charged with renewable energy

Monthly capacity credit

$3.50 per kilowatt

Monthly bill credit per enrolled kilowatt, minus verified system losses

Curtailment credit

$0.10 per kilowatt hour

Bill credit for energy delivered during curtailment events

Dispatch frequency

30–36 events per year

Annual number of times customer systems may be discharged

Event duration cap

4 hours

Maximum duration of each PowerShare Storage discharge event

Owned generating capacity

55,700 megawatts

Duke Energy’s collective energy capacity across service territories

Historical Context

5 past events · Latest: May 20

5 events

1. May 20

   Veterans grants SC

   24h Move

   -0.0%

   Foundation awarded $30,000 in Memorial Day grants to SC veteran groups.

2. May 20

   Veterans grants NC

   24h Move

   -0.0%

   America250 grants of $45,800 to NC groups for veterans’ career pathways.

3. May 19

   Veterans grants FL

   24h Move

   +1.4%

   Foundation awarded $50,000 to five Florida nonprofits supporting veterans.

4. May 19

   Multi-state vets funding

   24h Move

   +1.4%

   Over $250,000 committed to veterans’ career pathways across six states.

5. May 13

   Heat prep advisory

   24h Move

   -0.9%

   Guidance to Carolinas customers on managing energy use during 90°F heat.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

demand response, energy storage system, kilowatt hour, megawatts

4 terms

demand response technical

"new nonresidential demand response program that leverages customer storage assets"

Demand response is a program or market mechanism where electricity users are paid or incentivized to reduce or shift their power use when the grid is stressed or prices are high, similar to turning down nonessential appliances during a heat wave to ease a traffic jam. It matters to investors because it can lower peak energy costs, affect utility revenues and market prices, and create opportunities for companies that provide the software, equipment, or services that enable those load changes.

energy storage system technical

"By enrolling a qualifying energy storage system, customers can earn bill credits"

An energy storage system is a setup that captures electricity when supply is abundant and stores it for later use, using batteries, pumped water, compressed air, or other methods. It matters to investors because it helps smooth power supply like a home battery preventing outages, lets renewable generation be sold when prices are high, can lower system costs and create new revenue streams, and therefore influences a company’s profitability, growth prospects and regulatory exposure.

kilowatt hour technical

"energy curtailment credit of $0.10 per kilowatt hour for energy used"

A kilowatt hour (kWh) is a unit of energy equal to running a 1,000‑watt device for one hour — like keeping ten 100‑watt light bulbs lit for an hour. Investors care because kWh measures how much electricity is produced, consumed, or stored, so changes in price or usage directly affect utility bills, operating costs, revenue from power sales, and the economics of renewable projects and battery investments.

megawatts technical

"collectively own 55,700 megawatts of energy capacity"

A megawatt is a measure of electrical power equal to one million watts, describing how much electricity a plant or device can generate or use at a single moment. Investors use megawatts to compare the size and earning potential of energy projects—larger capacity usually means more electricity to sell—much like comparing the horsepower of engines to judge how much work they can do. Knowing megawatts helps assess scale, revenue potential, and grid impact of energy assets.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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• PowerShare Storage offers bill credits to customers who enroll a qualifying energy storage system
• Program builds on solutions to help ensure long-term grid reliability and resilience

GREENVILLE, S.C., May 27, 2026 /PRNewswire/ -- The Public Service Commission of South Carolina has approved the launch of a new nonresidential demand response program that leverages customer storage assets as flexible grid resources while delivering direct value to participating customers. By enrolling a qualifying energy storage system, customers can earn bill credits while helping support a more reliable grid during periods of high demand as the Carolinas continue to grow.

Why it matters: An energy storage system functions like a backup power source, capturing energy when it's available, and delivering it when customers need it most. Storage-based demand response programs enhance this benefit by helping customers reduce costs while supporting grid reliability during times of peak demand. PowerShare® Storage expands Duke Energy's existing battery flexibility solutions beyond residential customers to include commercial, industrial, government and other nonresidential participants.

The big picture: Customer-sited storage – whether in homes or businesses – plays an increasingly important role in keeping the electric grid reliable, stable and cost-effective. By storing energy when surplus resources are available and releasing it when demand is highest, these systems help accommodate more renewable generation while supporting customers during periods of peak use, such as winter mornings or summer evenings.

Today, nearly 500,000 customers in the Carolinas participate in Duke Energy demand response programs, helping reduce system costs and strengthen reliability across the electric grid. This broad participation helps keep rates lower for all customers – not just those enrolled. Through the PowerShare Storage program, nonresidential customers now have additional opportunities to manage energy costs while contributing to overall grid reliability.

By the numbers: The program offers customers up to three types of incentives that reward participation and support a reliable electric grid.

• First, customers can receive a one-time connectivity credit of $120 per kilowatt when their system meets program connection requirements. Customers whose battery storage systems are charged using renewable energy may also qualify for an additional $30 credit per kilowatt.
• Customers also earn a monthly capacity credit of $3.50 per enrolled kilowatt, minus a factor for system losses that is independently verified.
• In addition, customers earn an energy curtailment credit of $0.10 per kilowatt hour for energy used during curtailment events each billing cycle.
• Combined, these incentives provide customers with predictable returns in exchange for making stored energy available when the grid needs it most.

By enrolling in the program, customers allow Duke Energy to temporarily discharge their systems between 30 and 36 times per year, with each event lasting no more than four hours. Customers maintain flexibility through the program, with the ability to opt out of up to four events per year – including two during winter months – while remaining eligible for bill credits. Duke Energy will begin to operate PowerShare Storage in South Carolina in August 2026 – nonresidential customers who would like to learn more about the program should contact their utility account representative or email PowerShareStorage@duke-energy.com.

What they're saying:

Tim Pearson, South Carolina president for Duke Energy: "It's a priority for us to save every dollar we can for our customers, who are essential partners in our work to modernize and maximize the grid and keep it operating reliably for everyone. PowerShare Storage is one of the ways we are innovating for customers today while at the same time preparing for the grid of tomorrow. This kind of program is, I believe, the kind of innovation the South Carolina Energy Security Act of 2025 calls for, and I am pleased that we have more options to provide for customers thanks to it."

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: Catherine Ramirez
24-Hour: 800.559.3853

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SOURCE Duke Energy

FAQ

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

What is Duke Energy's (DUK) new PowerShare Storage program in South Carolina?

PowerShare Storage is a nonresidential demand response program using customer energy storage to support the grid and provide bill credits. According to Duke Energy, it targets commercial, industrial, government and other nonresidential customers with qualifying battery systems.

How much can nonresidential customers earn from Duke Energy (DUK) PowerShare Storage incentives?

Customers can earn a $120/kW connectivity credit, plus $30/kW when charged by renewables, a $3.50/kW monthly capacity credit and $0.10/kWh curtailment credits. According to Duke Energy, these incentives offer predictable returns for participating storage assets.

When will Duke Energy (DUK) launch the PowerShare Storage program in South Carolina?

Duke Energy plans to begin operating PowerShare Storage in South Carolina in August 2026. According to Duke Energy, interested nonresidential customers should contact their utility account representative or email the program address to learn about enrollment and eligibility.

How does Duke Energy's (DUK) PowerShare Storage program operate customer batteries?

Participants allow Duke Energy to discharge enrolled storage systems 30 to 36 times per year, with each event lasting up to four hours. According to Duke Energy, customers may opt out of up to four events annually and still receive bill credits.

Which Duke Energy (DUK) customers are eligible for the PowerShare Storage demand response program?

Eligibility focuses on nonresidential customers with qualifying energy storage systems in South Carolina, including commercial, industrial and government accounts. According to Duke Energy, systems must meet connection requirements to receive incentives under the PowerShare Storage program.

How does PowerShare Storage support Duke Energy's (DUK) grid reliability and energy transition?

PowerShare Storage uses customer-sited batteries to store energy during surplus periods and discharge during peak demand. According to Duke Energy, this supports grid reliability, helps integrate more renewable generation and can reduce system costs for Carolinas customers.