- With added options, Green Source Advantage Choice helps
large businesses access renewable energy on Duke Energy's
grid
CHARLOTTE, N.C., Oct. 22,
2024 /PRNewswire/ -- Duke Energy (NYSE: DUK) has
received approval for Green Source Advantage Choice (GSA-C) in
North Carolina, a program that
provides the opportunity for large business customers to support
renewable energy development by supplementing their power
usage with 100% renewable, carbon-free generation.
"Green Source Advantage Choice builds upon the success with our
legacy Green Source Advantage program that has allowed large
business customers to make decarbonization a long-term part of
business plans," said Kendal Bowman,
Duke Energy North Carolina state president. "We started with
stakeholder discussions in 2022, and it has been a priority to
develop an offering that meets the needs of customers while working
within the regulatory framework."
Duke Energy's foundational Green Source Advantage (GSA) program
supports renewable energy development by providing large
nonresidential customers the opportunity to offset their power
purchases by securing renewable energy from new projects connected
to the local Duke Energy grid. The GSA-C program builds upon that
with key modifications, including up to 5,000 megawatts (MW) of
capacity – more than five times the capacity that was available
under the original versions of the program. GSA-C provides large
business customers with a path toward having 24/7 clean energy and
enables them to count the renewable energy generated to satisfy
their sustainability goals.
The program incorporates key new features including an
additional bill credit option and the ability for customers to
increase the capacity they can apply to match 100% of their energy
usage. As a voluntary program, GSA-C is fully funded by
participating large business customers, with no cost to customers
who choose not to participate.
GSA-C continues to offer large business customers the
flexibility of selecting and negotiating all price terms directly
with a renewable supplier of their choice, including securing clean
energy environmental attributes (CEEAs) generated by that renewable
facility. CEEAs are comprised of both the renewable energy
certificate (REC) and the carbon emission reduction attribute
associated with renewable energy generation. Customers will
have the option of combining battery storage at the renewable
facility, and the customer and developer may choose a mutually
agreeable contract length.
GSA-C offers customers several options, including:
- Bring Your Own Purchased Power Agreement (PPA) – The
continuation of the traditional "Bring Your Own PPA" option is
currently available and offers 250 MW of capacity annually.
- Resource Acceleration Option (RAO) – The RAO is
available and modeled on the Bring Your Own PPA option but offers
an additional 300 MW of capacity every two years.
- Work with Duke Energy – A new 'easy option' allows
customers to collaborate directly with Duke Energy on new
facilities that will be coming online and operational in the
future. These facilities can be Duke Energy-generated or operated
and maintained by a third party. With planning and construction of
these new projects underway, additional details on this option will
be available in the coming months.
"The revenue from the sale of clean energy environmental
attributes (CEEAs), or carbon-free attributes, means that Green
Source Advantage Choice not only provides a valuable solution to
our customers but allows all of our retail customers to share in
the advantages of clean energy benefits – regardless of whether
they participate in the program," said Bowman.
Later this year, Duke Energy also plans to file Clean Energy
Connection with the North Carolina Utilities Commission
(NCUC). The proposed is a subscription-based community solar
program will allow for an additional way for customers to meet
their sustainability goals.
Similar programs have also been approved and are underway in
South Carolina.
More information: Green Source Advantage Program - Duke Energy
(duke-energy.com)
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 X, 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
View original content to download
multimedia:https://www.prnewswire.com/news-releases/duke-energy-expands-north-carolina-program-that-helps-businesses-become-more-renewable-and-carbon-free-302283544.html
SOURCE Duke Energy