Duke Energy announces plans for new renewable energy program in South Carolina

GREENVILLE, S.C., Oct. 15, 2018 /PRNewswire/ -- Duke Energy has proposed a new program to expand renewable energy options for its commercial and industrial customers in South Carolina.

The proposed Green Source Advantage program will provide large nonresidential customers the option to secure significant amounts of solar or other renewable energy to satisfy their sustainability or other clean energy goals.

The program will provide Duke Energy's South Carolina large business customers an opportunity to participate in a renewable energy program where they receive bill credits for energy produced by a solar site not located on the customers' premises. The program also enables customers to retain the renewable energy certificates (RECs) produced by the facility.

"We've received significant interest from our large commercial and industrial customers in offering programs that help them meet their sustainability goals," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "The Green Source Advantage program will leverage renewable energy options to do just that."

The program must be approved by the Public Service Commission of South Carolina (PSCSC) before it can be offered to customers.

If approved, the program would provide up to a total of 150 megawatts (MW) of reserved renewable energy capacity. From that 150 MW, 113 MW of capacity will be reserved for customers of Duke Energy Carolinas, which primarily serves the Upstate of South Carolina, and 37 MW of capacity will be reserved for customers of Duke Energy Progress, primarily serving the Pee Dee region including Florence and Sumter counties.

Participation in the program will be on a first-come, first-served basis. Participating customers must be located in the same utility service territory as the facilities providing the renewable energy, but those facilities can be located in either North Carolina or South Carolina.

Visit the PSCSC website for additional information on the proposed programs.

The Green Source Advantage program builds on policy efforts in South Carolina to grow renewable energy.

As a result of legislation passed in 2014 ? commonly known as Act 236 -- Duke Energy and its customers have helped make South Carolina one of the country's greatest success stories for renewable energy. In 2017, South Carolina jumped to No. 8 in the country for the amount of solar installed during the year.

Act 236 provided a framework for customers to install solar on their homes and businesses through strategic programs like the net metering incentive and solar rebate offerings. In addition to the net metering incentive, the company has provided more than $50 million in rebates as an extra incentive for customers who wanted to go solar across its South Carolina footprint.

Duke Energy also launched a Shared Solar Program this summer that allows customers to participate in the renewable marketplace without installing solar panels at their homes or businesses.

Duke Energy

Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.

The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states ? North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states ? North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.

A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.

More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Contact: Ryan Mosier
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SOURCE Duke Energy