Biz Roundup: Duke Energy aims for net-zero carbon emissions by 2050
CHARLOTTE — Duke Energy has unveiled an updated climate strategy with a new goal of net-zero carbon emissions from electric generation by midcentury.
The company is accelerating its near-term goal by cutting carbon dioxide emissions by half or more from 2005 levels by 2030.
The company says its 2017 goal to reduce carbon emissions 40% by 2030 was one of the industry’s most ambitious at the time. Since then, sustained low prices for natural gas and declining costs for renewables and storage have allowed the company to accelerate that goal to at least 50% by 2030.
“We are making a cleaner energy future a reality for our customers and communities,” said Lynn Good, chairman, president and CEO of Duke. “A diverse mix of renewables, nuclear, natural gas, hydro and energy efficiency are all part of this vision, and we’ll take advantage of economical solutions to continue that progress. In the longer term, innovation and new technologies will be critical to a net-zero carbon future.”
The company says its net-zero goal represents one of the most significant commitments to reducing carbon dioxide emissions in the U.S. power sector.
“Getting to net-zero carbon emissions, while ensuring energy remains reliable and affordable, will require new technologies. That’s the very reason we need to act now,” Good said. “We must continue leveraging today’s technologies while sustaining investment in innovation for this vision to become reality.”
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