Duke Energy Expands North Carolina Program That Helps Businesses Become More Renewable and Carbon-Free

• With added options, Green Source Advantage Choice helps large businesses access renewable energy on Duke Energy’s grid

CHARLOTTE, N.C., October 24, 2024 /3BL/ - Duke Energy (NYSE: DUK) has received approval for Green Source Advantage Choice (GSA-C) in North Carolina, a program that provides the opportunity for large business customers to support renewable energy development by supplementing their power usage with 100% renewable, carbon-free generation.

“Green Source Advantage Choice builds upon the success with our legacy Green Source Advantage program that has allowed large business customers to make decarbonization a long-term part of business plans,” said Kendal Bowman, Duke Energy North Carolina state president. “We started with stakeholder discussions in 2022, and it has been a priority to develop an offering that meets the needs of customers while working within the regulatory framework.”

Duke Energy’s foundational Green Source Advantage (GSA) program supports renewable energy development by providing large nonresidential customers the opportunity to offset their power purchases by securing renewable energy from new projects connected to the local Duke Energy grid. The GSA-C program builds upon that with key modifications, including up to 5,000 megawatts (MW) of capacity – more than five times the capacity that was available under the original versions of the program. GSA-C provides large business customers with a path toward having 24/7 clean energy and enables them to count the renewable energy generated to satisfy their sustainability goals.

The program incorporates key new features including an additional bill credit option and the ability for customers to increase the capacity they can apply to match 100% of their energy usage. As a voluntary program, GSA-C is fully funded by participating large business customers, with no cost to customers who choose not to participate.

GSA-C continues to offer large business customers the flexibility of selecting and negotiating all price terms directly with a renewable supplier of their choice, including securing clean energy environmental attributes (CEEAs) generated by that renewable facility. CEEAs are comprised of both the renewable energy certificate (REC) and the carbon emission reduction attribute associated with renewable energy generation. Customers will have the option of combining battery storage at the renewable facility, and the customer and developer may choose a mutually agreeable contract length.

GSA-C offers customers several options, including:

• Bring Your Own Purchased Power Agreement (PPA) – The continuation of the traditional “Bring Your Own PPA” option is currently available and offers 250 MW of capacity annually. 
   
• Resource Acceleration Option (RAO) – The RAO is available and modeled on the Bring Your Own PPA option but offers an additional 300 MW of capacity every two years. 
   
• Work with Duke Energy – A new ‘easy option’ allows customers to collaborate directly with Duke Energy on new facilities that will be coming online and operational in the future. These facilities can be Duke Energy-generated or operated and maintained by a third party. With planning and construction of these new projects underway, additional details on this option will be available in the coming months.

“The revenue from the sale of clean energy environmental attributes (CEEAs), or carbon-free attributes, means that Green Source Advantage Choice not only provides a valuable solution to our customers but allows all of our retail customers to share in the advantages of clean energy benefits – regardless of whether they participate in the program,” said Bowman.

Later this year, Duke Energy also plans to file Clean Energy Connection with the North Carolina Utilities Commission (NCUC). The proposed is a subscription-based community solar program that will allow for an additional way for customers to meet their sustainability goals.

Similar programs have also been approved and are underway in South Carolina.

More information: Green Source Advantage Program - Duke Energy (duke-energy.com)

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company’s electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and nuclear.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

Contact: Logan Stewart 
24-Hour: 800.559.3853

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