Exelon Stock Price, News & Analysis

ComEd has announced nearly $1.4 million in grants aimed at connecting northern Illinois families and businesses to climate-friendly programs. The grants, which can reach up to $450,000 each, will be managed by three nonprofit organizations: Community Investment Corporation, Equiticity, and Proviso Leyden Council for Community Action. This initiative focuses on supporting under-resourced communities impacted by climate change, providing educational resources, and promoting clean energy adoption.

Exelon (Nasdaq: EXC) has committed to the White House Talent Pipeline Challenge, aiming to enhance workforce development in critical infrastructure sectors. This year, Exelon plans to invest nearly $14 million across 75 workforce programs, benefiting over 5,000 participants. Since 2019, more than 14,000 individuals have completed its training programs, with nearly 1,300 securing sustainable careers. The initiative focuses on equity and partnerships, with Exelon emphasizing its role in driving economic growth for underserved communities.

ComEd's Energy Doctors provide essential energy-saving tips for cold weather, supporting families in managing electric bills as temperatures drop. Highlighting resources, these experts focus on aiding customers facing economic hardships, especially during National Energy Efficiency Day on October 5. Key strategies include optimizing thermostat settings, using natural sunlight, and maintaining heating vents. The award-winning Energy Efficiency Program has saved customers over $7 billion since 2008, helping them conserve nearly 65 million megawatt-hours. Free home energy assessments have also saved customers approximately $17.5 million.

ComEd hosted a STEM Labs event to inspire 50 Latino high school students to pursue careers in science, technology, engineering, and math (STEM). The event, part of efforts to address Latino underrepresentation in STEM, allowed students to build robots and interact with ComEd engineers. Participants received $250 scholarships and learned about various STEM career opportunities. Despite making up 17% of the U.S. workforce, Latino Americans represent only 8% of STEM workers. ComEd continues to sponsor initiatives promoting STEM education for students of color and women.

ComEd has launched an EV Toolkit to assist customers considering electric vehicles (EVs). This comprehensive resource offers information on financial incentives, vehicle options, and charging solutions. With the goal of adding 1 million EVs to Illinois roads by 2030, the toolkit helps users compare costs and find public charging stations, emphasizing potential savings of up to $2,481 annually for EV owners. The initiative supports Illinois' transition to clean energy, aligning with the new CEJA law aiming for 100% clean energy by 2050.

ComEd has launched a pilot program using drones for vegetation management near powerlines in northern Illinois. The initial deployment involved spraying herbicide over two acres in Forest View, which was completed in just 45 minutes using only 0.75 gallons of herbicide, significantly reducing time and resources compared to traditional methods. The initiative is part of ComEd's efforts to mitigate power outages caused by overgrown vegetation and aims to enhance the restoration of native prairie across 65,000 acres of right-of-way land. This innovative approach is set to improve efficiency while maintaining safety.

ComEd has facilitated energy savings of approximately $17.5 million for nearly 130,000 customers in northern Illinois through its home energy assessment program. Since 2014, these assessments have contributed to $30 million in free energy-saving products. Customers have saved over 125 million kilowatt-hours and reduced carbon emissions by more than 106 million pounds. The program aims to enhance energy efficiency and lower costs, showcasing ComEd's commitment to providing reliable electricity and supporting cleaner energy solutions.

PPG has entered a 12-year agreement with Constellation to procure clean energy for its Adrian, Michigan manufacturing facility. Starting in 2024, PPG will receive 1.5 MW from the Double Black Diamond Solar Energy Project, aiming to reduce its carbon footprint by over 2,400 metric tons annually, equivalent to emissions from 530 gasoline cars. This initiative supports PPG's ongoing sustainability efforts and aligns with its decarbonization goals. The partnership highlights PPG's commitment to renewable energy and its intent to explore more global opportunities in this sector.