Duke Energy (NYSE: DUK) has reached a significant milestone by bringing the Pflugerville Solar facility online (144-megawatt (MW)). The company now owns, performs, or buying more than 10,000 MW of solar and wind energy across the United States from its nonregulated and regulated businesses.
Duke Energy’s renewables portfolio encompasses approximately 200 facilities in 22 states, with more than 1,000 megawatts of new facilities under construction around the country, notably in Florida, Texas, and the Carolinas, making it one of the country’s leading renewable energy providers.
The company’s present renewables portfolio capability produces enough energy to power about 2.4 million households and businesses at peak production.
Brian Savoy, Duke Energy’s executive vice president, commercial officer, and chief strategy, said, “Renewables are playing a vital role as we make good development toward our aggressive climate objectives of a minimum 50% carbon decrease by the year 2030 as well as a net-zero by 2050.” “We’re well on our approach to exceeding our decarbonization targets by expanding our renewables portfolio to about 16 GW by 2025 the year and 24 GW by the year 2030, and we’re well on our path to surpassing our decarbonization objectives by expanding our renewables platform to 16 GW by the year 2025 and 24 GW by the year 2030.”
Solar and wind growth encourages economic development and employment creation in the areas served by Duke Energy, in addition to carbon decrease and the advantages of creating a broad energy infrastructure. Duke Energy currently employs roughly 700 wind and solar professionals, project developers, support personnel, and third-party contract employees, and pays local landowners over $29 million in yearly lease payments. Furthermore, renewable energy production creates lots of jobs in the regions where our facilities are located during peak construction.
“Duke Energy has been providing low-cost renewable energy to our consumers for more than a decade,” stated Chris Fallon, Duke Energy Sustainable Solutions’ president. “These initiatives provide major economic and environmental advantages for our consumers and communities, as well as innovative sustainability solutions.”
The 144-MW Pflugerville Solar project, which is located in Travis County, Texas, is Duke Energy Sustainable Solutions, * which is a nonregulated commercial trademark of Duke Energy’s utility-scale solar installation in the state. It also announced the development of a sixth solar facility earlier this year, the 250-MW Pisgah Ridge Solar facility situated in Navarro County, Texas, that is set to become live by the end of 2022.
Under the 15-year power purchase agreement (PPA), the energy generated by the Pflugerville Solar plant will be sold to Austin Energy. Austin Energy, the city’s electric provider, serves more than 528,000 accounts and much more than 1 million people in the Greater Austin area. Austin Energy’s renewable energy targets are supported by this PPA.