Charlotte-based Duke Energy today announced an updated climate strategy with a new goal of net-zero carbon emissions from electric generation by midcentury. The company also is accelerating its near-term goal by cutting its carbon dioxide emissions by half or more from 2005 levels by 2030.
This follows the company already reducing carbon emissions 31% since 2005, exceeding the standards of the former Clean Power Plan and the 2025 U.S. commitment to the Paris Agreement.
“We are making a cleaner energy future a reality for our customers and communities,” said Lynn Good, chairman, president and CEO. “A diverse mix of renewables, nuclear, natural gas, hydro and energy efficiency are all part of this vision, and we’ll take advantage of economical solutions to continue that progress. In the longer-term, innovation and new technologies will be critical to a net-zero carbon future.”
Achieving these goals requires a thoughtful approach that pairs today’s technologies with the research and development needed for tomorrow. The company expects it can achieve significant reductions in carbon emissions by 2050 with the technology that exists today.
“Getting to net-zero carbon emissions, while ensuring energy remains reliable and affordable, will require new technologies. That’s the very reason we need to act now,” Good said. “We must continue leveraging today’s technologies while sustaining investment in innovation for this vision to become reality.”
Duke Energy’s path to a net-zero carbon future
· Collaborating and align with each state and local municipality to determine the right path.
· Accelerate the transition to cleaner energy solutions by doubling their portfolio of solar, wind and other renewables by 2025 and expanding energy storage, energy efficiency and electric vehicle infrastructure.
· Investing in a multiyear effort to create a smarter and more resilient grid that can protect against extreme weather and cyber or physical attacks.
· Advocating for sound public policy that advances technology and innovation.
For details on the company’s comprehensive approach to tackling climate change through adaptation, mitigation and innovation, visit duke-energy.com/climate.