U.S. Department of Defense Joins Duke Energy's Green Source Advantage Program

Rhea-AI Summary

The Department of Defense (DOD) has joined Duke Energy's (NYSE: DUK) Green Source Advantage (GSA) program, committing to provide renewable energy for its five largest military installations in North and South Carolina. The agreement will deliver an estimated 135 megawatts and approximately 4.8 million megawatt-hours of renewable energy over 15 years through two new solar facilities in South Carolina, managed by energyRe. These projects are expected to be operational by Q4 2026. This initiative supports the DOD's decarbonization targets under Executive Order 14057, aiming for 100% carbon-free electricity by 2030. Duke Energy's GSA program helps large nonresidential customers offset power purchases with renewable energy sources. Other GSA participants include the City of Charlotte, Bank of America, and Duke University. Duke Energy, a Fortune 150 company, serves 8.4 million electric customers and 1.7 million gas customers across several states, focusing on a clean energy transition to achieve net-zero carbon emissions by 2050.

Positive

• The DOD's participation in the GSA program will deliver 135 megawatts and 4.8 million megawatt-hours of renewable energy over 15 years.
• The initiative supports Executive Order 14057's goal of 100% carbon-free electricity by 2030.
• Two new solar facilities will be constructed in South Carolina, expected operational by Q4 2026.
• Duke Energy's GSA program helps large nonresidential customers offset power purchases with renewable energy.
• Duke Energy is expanding its clean energy portfolio, with over 5,100 MW of solar power.

Negative

• The new solar facilities are subject to local and state approvals, which could delay the project.
• The projects will not be operational until the fourth quarter of 2026, potentially delaying immediate benefits.

• Green Source Advantage (GSA) enables significant progress toward the DOD's sustainability goals for military installations in the Carolinas

CHARLOTTE, N.C., June 18, 2024 /PRNewswire/ -- The United States Department of Defense (DOD) has signed on to Duke Energy's (NYSE: DUK) Green Source Advantage (GSA) program to provide renewable energy on behalf of the five largest DOD major military installations across North Carolina and South Carolina, including Fort Liberty, USMC-Camp Lejeune, USMC-Cherry Point, USAF Seymour Johnson and USAF Shaw.

The DOD's participation in the GSA program will provide an estimated 135 megawatts and approximately 4.8 million megawatt-hours of renewable energy in both states over a 15-year delivery period from two newly constructed off-site solar facilities in South Carolina. The facilities will be developed, owned and operated by energyRe, subject to local and state approvals. The projects are expected to become operational in the fourth quarter of 2026.

"This project is a great opportunity to assist our military departments and our warfighters in their decarbonization goals and is paramount to reaching our initial goals of Executive Order 14057, Catalyzing Clean Energy Industries and Jobs Through Federal Sustainability. DLA Energy is committed to supporting the administration's clean energy initiatives and helping the military services and whole-of-government partners achieve their climate change goals," said United States Air Force Col. Jennifer Neris, director of carbon pollution-free electricity for the Defense Logistics Agency.

Duke Energy's GSA program, which supports renewable energy development, provides large nonresidential customers the opportunity to offset their power purchases by securing renewable energy from projects connected to the Duke Energy grid. The customer receives the renewable energy certificates (RECs) generated by the projects to satisfy sustainability and/or renewable, carbon-free energy goals. Customers are credited for the solar power the facility generates against their energy purchased from the Duke Energy grid.

Additional participants in Duke Energy's GSA program include the City of Charlotte, the City of Durham, Bank of America, Durham County, Duke University and Durham Public Schools.

"As our large business customers plan for the future, they also have increasingly specific goals around decarbonization and require access to renewable energy sources that can support those needs," said Meghan Dewey, vice president of Products and Services for Duke Energy. "Duke Energy continues to expand its scope of customer options and programs built with critical stakeholder feedback to enable these customers and prospective customers to meet their sustainability goals."

Executive Order 14057 has established targets for federal agencies to reach 100% carbon-free electricity by 2030, with 50% matching on a 24/7 basis. Participating in the Duke Energy GSA program is one of the DOD's first major carbon-free energy initiatives and will enable them to make considerable progress toward the requirements of EO 14057.

Duke Energy is leading the largest clean energy transformation in the United States. It owns, operates and purchases more than 5,100 MW of solar power on its energy grid in the Carolinas – enough to power the annual usage of almost 1 million homes and businesses. North Carolina currently ranks No. 5 in the nation for overall solar power. With a portfolio of nuclear, hydro and renewable energy, more than half of the company's energy mix in North Carolina is carbon-free.

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 Twitter, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

Contact: Logan Stewart
24-Hour: 800.559.3853
Twitter: @DE_LoganS

 

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SOURCE Duke Energy

FAQ

What is the purpose of the Department of Defense joining Duke Energy's GSA program?

The Department of Defense aims to achieve its sustainability goals, providing renewable energy to its largest military installations in North and South Carolina.

How much renewable energy will the DOD receive from the Duke Energy GSA program?

The DOD will receive an estimated 135 megawatts and 4.8 million megawatt-hours of renewable energy over 15 years.

When are the new solar facilities in South Carolina expected to be operational?

The new solar facilities are expected to be operational by the fourth quarter of 2026.

What other entities are participating in Duke Energy's GSA program?

Other participants include the City of Charlotte, Bank of America, Duke University, and Durham Public Schools.

How does Duke Energy's GSA program benefit large nonresidential customers?

The GSA program allows large nonresidential customers to offset their power purchases by securing renewable energy, receiving renewable energy certificates (RECs) in the process.

What are the long-term goals of Duke Energy?

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.