Duke Energy’s Updated Load Forecast Calls for 2400 MW of Offshore Wind in the Carolinas

Duke Energy’s Updated Load Forecast Calls for 2400 MW of Offshore Wind in the Carolinas

For Immediate Release: January 31, 2024

Media Contact: Katharine Kollins, katharinek@sewind.org, 303-564-9687

Raleigh, N.C. – Today, Duke Energy filed supplemental modeling, additional portfolio analysis, and supplemental testimony with North Carolina regulators for the proposed combined Carbon Plan and Integrated Resource Plan (CPIRP). The Carbon Plan is mandated through HB951 and requires the NCUC to take ‘all reasonable steps’ to achieve 70 percent carbon emission reductions from 2005 levels by 2030 and achieve carbon neutrality by 2050 using a least-cost approach.

The NCUC’s 2022 Carbon Plan order recognized the need for advanced planning of offshore wind, as well as the many benefits the technology provides to a clean grid, but fell short of directing the [regulated arm of the] utility to move forward with acquiring an offshore wind leasehold off the coast of North Carolina. Additionally, Duke Energy’s preferred portfolio selection of the 2023 Carbon Plan and IRP omitted offshore wind and related near-term development activities, which curtails ​​the immense economic opportunities and grid resiliency benefits available to North Carolina. 

Due to the significant economic development coming to the Carolinas, Duke notified the NCUC that their load forecast would increase by 2 GW, necessitating this additional modeling effort.

The supplemental modeling, additional portfolio analysis, and supplemental testimony filed today is a testament to the value that offshore wind generation can bring to the Carolinas. With 2400 MW of wind by 2035, North Carolina will be able to realize both the economic development advantages of offshore wind as well as the incredible value offshore wind brings to the grid. Offshore wind is a predictable and reliable winter peaking resource – providing electricity when the grid needs it most. Offshore wind has a complimentary generation profile to the significant amounts of solar coming online, and is an essential requirement to meet both energy needs and carbon reduction requirements in the state.

Katharine Kollins, President of SEWC commented, “Duke’s updated modeling and supplemental portfolio clearly illustrates how important offshore wind will be to providing the large quantities of carbon-free electricity needed to reliably run the grid. Offshore wind is an incredible resource that will diversify power generation and provide electricity when we need it most – winter mornings and summer afternoons.” 

 

About SEWC 

The Southeastern Wind Coalition is a 501(c)3 that works to advance the land-based and offshore wind industry in the Southeast. We focus on supply chain growth, economic development, job growth, and wind energy development in the region with solutions that are beneficial to industry, utilities, and result in net economic benefits to citizens and ratepayers.  For more information about the Southeastern Wind Coalition visit http://www.sewind.org.

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