Duke Energy partners with industry leaders for clean energy options.

By Oliver Townsend May 29, 2024
Duke Energy signs MoU with Amazon, Google, Microsoft and Nucor for clean energy options.jpegOrginal image from: https://www.greentechlead.com/renewable-energy/duke-energy-signs-mou-with-amazon-google-microsoft-and-nucor-for-clean-energy-options-46717

In today’s rapidly evolving energy landscape, collaboration between major corporations and utility providers is crucial to drive the transition towards clean and sustainable energy solutions. Duke Energy recently announced groundbreaking agreements with tech giants Amazon, Google, Microsoft, and steel manufacturer Nucor to explore innovative approaches in supporting carbon-free energy generation. This Memorandum of Understanding (MoU) signifies a significant step towards accelerating the adoption of clean energy technologies and reducing carbon emissions.

Exploring New Tariffs for Clean Energy Investments

The partnership between Duke Energy and Amazon, Google, Microsoft, and Nucor aims to develop new tariffs that will lower the long-term costs associated with investing in clean energy technologies such as new nuclear and long-duration storage. These proposed Accelerating Clean Energy (ACE) tariffs are designed to enable customers to support carbon-free energy generation through innovative financing structures and risk mitigation strategies, ultimately reducing the costs of emerging technologies.

The ACE tariffs will not only facilitate on-site generation at customer facilities but also encourage participation in load flexibility programs and investments in clean energy assets. These features are especially attractive to large-scale energy consumers looking to align their operations with sustainability goals while minimizing their environmental footprint.

Introducing the Clean Transition Tariff (CTT)

As part of the ACE framework, Duke Energy will offer a Clean Transition Tariff (CTT) that provides commercial and industrial customers with individualized portfolios of new carbon-free energy. This innovative tariff structure will match clean-energy generation with customer load profiles to accelerate grid decarbonization. The CTT is a voluntary program designed for larger customers seeking to advance their clean energy objectives, with built-in protections for non-participating customers.

These new, voluntary pricing structures for Duke Energy’s large commercial and industrial customers will be an integral part of the company’s five-year capital plan. The implementation of ACE tariffs is contingent upon regulatory approvals in North Carolina and South Carolina, highlighting the commitment of Duke Energy and its partners to navigating the regulatory landscape in pursuit of cleaner and more sustainable energy solutions.

Driving Collaboration for a Sustainable Future

The collaboration between Duke Energy, Amazon, Google, Microsoft, and Nucor signifies a shared commitment to accelerating the transition towards clean, reliable, and affordable energy solutions. By leveraging the expertise and resources of these industry leaders, Duke Energy aims to enhance its service offerings, reduce financial risks, and support economic development within the communities it serves.

Through this partnership, Duke Energy and its collaborators are poised to usher in the next generation of energy innovation, paving the way for a sustainable future while working towards ambitious climate goals. The collective efforts of these companies underscore the importance of cross-sector collaboration in driving positive change and shaping a more sustainable energy landscape for generations to come.

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