North Carolina Commission Approves Duke Energy’s Resource Plan

The North Carolina Utilities Commission on Nov. 1 approved Duke Energy’s Carolinas Resource Plan, which includes the utility’s energy resource portfolio and carbon emissions targets. The plan approved development work on Duke Energy’s major renewable energy projects along with associated costs and extended the deadline for achieving a 70 percent carbon reduction from 2030 to 2032.

The plan outlines how the utility will effectively manage future demand growth in North and South Carolina, transition to cleaner energy sources, and maintain a resilient electric grid. North Carolina law requires the utility to reevaluate the plan and provide updated costs and forecasts every two years. The commission approved Duke Energy’s initial carbon plan in December 2022.

The order includes several short-term directions regarding the utility expanding its renewable portfolio from the 2022 plan. The commission approved adding 3,460 megawatts (MW) of new solar production with an estimated total production of 6,700 MW by 2031, adding 1,100 MW of battery energy storage with a total capacity reaching 2,700 MW by 2031, and at least 300 MW of operational onshore wind capacity by 2031 with the total onshore wind generation capacity reaching 1,200 MW by 2033.

The regulators also approved four combustion turbines by 2030. The new plan includes two new 900 MW turbines, in addition to the other two 800 MW turbines included in the initial 2022 plan.

The commission also approved several long-term renewable resources, permitting the utility to continue development work and approving associated costs. The order approved the utility’s requests of $165 million for the development of the Bad Creek II hydro project and $440 million to develop nuclear assets to bring 300 MW of capacity by 2034, reaching a total of 600 MW by 2035.

The utility filed the Carolinas Resource Plan in August 2023 and provided additional information in January this year to reflect an unprecedented growth in forecasted customer demand. Duke Energy also filed the plan with the South Carolina Public Service Commission and currently awaits their approval. The utility anticipates a decision from the South Carolina regulators on or before Nov. 26.