Duke Energy Carolinas: Rates, Coverage Area, Emissions (2024)

FAQs

What are the emissions targets for Duke Energy? ›

Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050.

Duke Energy Carolinas

Headquartered in Charlotte. Serves approximately 2.5 million accounts in central and western North Carolina and western South Carolina in a service area of approximately 24,000 square miles.

We've set ambitious climate goals for our company, striving toward at least a 50% reduction in CO₂ emissions from electricity generation in 2030 on the way to net-zero CO₂ by 2050. We're also targeting net-zero methane emissions for our natural gas distribution business by 2030.

Our electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Our natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Scope 1 are direct emissions from the company, such as the power the company generates and its fleet of vehicles. Scope 2 emissions are indirect emissions from power the company purchases from others to use in its facilities. Scope 3 includes indirect emissions that arise from others in the company's value chain.

The target CO2 emission rate (TER) sets a minimum allowable standard for the energy performance of a building and is defined by the annual CO2 emissions of a notional building of same type, size and shape to the proposed building. TER is expressed in annual kg of CO2 per sq.

Who We Are. Duke Energy offers energy services to approximately 7.4 million customers in the Carolinas, Florida, Ohio, Kentucky and Indiana, and retail natural gas services to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee.

How does carbon emission offset work? ›

Carbon offsets are tradable “rights” or certificates linked to activities that lower the amount of carbon dioxide (CO₂) in the atmosphere. By buying these certificates, a person or group can fund projects that fight climate change, instead of taking actions to lower their own carbon emissions.

The price fluctuates depending on demand and supply but generally ranges from $40 to $80 per metric ton.

Duke Energy operates 11 nuclear units at six sites in North Carolina and South Carolina. Together, these facilities can generate about 10,700 megawatts. Duke Energy's nuclear plants generate about half of the electricity for our customers in the Carolinas, with production costs among the lowest in the nation.

How does Duke Energy's net metering work? Duke Energy's net metering program allows customers who generate electricity from their own solar panel system to offset their energy costs. Net metering participants receive bill credit from Duke Energy for the excess energy generated by their solar panel system.

Why is the minimum bill $30? A minimum of $30 for each meter connection goes toward maintaining and modernizing the infrastructure for customers who depend on a reliable grid every day. The system must always stand ready to provide power to all customers whenever they need it.

Scope 1 emissions are direct greenhouse (GHG) emissions that occur from sources that are controlled or owned by an organization (e.g., emissions associated with fuel combustion in boilers, furnaces, vehicles).

Definitions of scope 1, 2 and 3 emissions

Essentially, scope 1 and 2 are those emissions that are owned or controlled by a company, whereas scope 3 emissions are a consequence of the activities of the company but occur from sources not owned or controlled by it.

Scope 1 emissions are direct emissions from owned or controlled sources. Scope 2 emissions are indirect emissions from the generation of purchased energy.

For external combustion units: Emission rate (lb/hour) = Emission factor (lb/unit) x Fuel consumption rate (unit/hr).

One mechanism is to require that a new or modified installation releases no more pollutants than determined by some law or regulation determining the lowest level of pollutants that can be maintained by existing technological means. These limits are known as the Lowest Achievable Emission Rate (LAER).

How do you set emission targets? ›

For Duke Energy, one of the largest US energy-holding companies, reducing methane emissions is part of its commitment to future generations. The company set ambitious net-zero methane goals for its gas-distribution business for 2030.

Building on this success, the Victorian Government has set targets that provide a clear path to net-zero emissions: 28-33% by 2025. 45-50% by 2030. 75-80% by 2035.

This is among the most comprehensive and ambitious climate action plans targeting consumption and sector-based emissions to date. It aims for a 40% reduction in consumption-based emissions by 2030 and an 80% cut by 2050, as well as sector-based emissions reductions (below 1990 levels) of 61% by 2030 and 90% by 2040.

Established: 2019. Statutory Targets: 40% by 2030; 85% by 2050 (1990 baseline); net-zero GHG emissions by 2050.

The world's five largest methane emitters (from all sources) are China, India, the United States, Russia and Brazil. Together, they are responsible for close to half of all methane emissions globally. Of these, only the United States and Brazil are part of the Global Methane Pledge.

Duke Energy is one of the top leakers of a gas that is 25,000 times more polluting than carbon dioxide, EPA records show. The gas, sulfur hexafluoride, is one of the most potent and longest-lasting climate pollutants — known collectively as “the immortals” because they remain in the atmosphere for thousands of years.

Duke Energy's electricity generation share 2022, by source

In financial year 2022, coal accounted for 13.5 percent of total electricity generation by the North Carolina headquartered utility company, with natural gas and oil making up the greatest share at 34.2 percent.