More renewable energy options available under Duke Energy's Green Source Advantage

CHARLOTTE, N.C., Aug. 21, 2019 /PRNewswire/ -- The North Carolina Utilities Commission (NCUC) has approved Duke Energy's Green Source Advantage (GSA) program in North Carolina, enabling the company to expand renewable energy options for customers. View the NCUC order.

"Large customers focused on securing more renewable energy now have an additional option with Duke Energy's Green Source Advantage," said Stephen De May, Duke Energy's North Carolina president. "This is a flexible program that will help them meet their renewable energy or sustainability goals on their own terms."

The GSA program offers large energy users the flexibility of selecting and negotiating all price terms directly with a renewable supplier of their choice, including the purchase of renewable energy certificates (RECs) generated by that renewable facility. The customer and developer can also agree on the contract length that is right for them.

The application window for the program opens Oct. 1 at 9 a.m. on a first-come, first-served basis. Visit duke-energy.com/ncgreensource for application details.

The GSA program will be available until the total capacity of 600 MW is fully subscribed. Of this 600-MW capacity, 100 MW will be set aside for military installations and 250 MW set aside for University of North Carolina institutions, according to language in North Carolina's Competitive Energy Solutions law.

The remaining 250 MW will be reserved for large nonresidential customers ? 160 MW for Duke Energy Carolinas and 90 MW for Duke Energy Progress.

Facilities that are used for the GSA program will be owned and operated by eligible renewable energy developers.

Other efforts to promote solar in North Carolina

Since the passage of the Competitive Energy Solutions for North Carolina law in 2017, Duke Energy has been steadily offering new solar programs benefiting customers in the state.

The company owns and operates 40 solar facilities in North Carolina and has invested more than $1 billion in renewable energy in the state this decade.

Duke Energy's $62 million solar rebate program for residential, commercial and nonprofit customers in North Carolina has helped 3,000 customers go solar in its first two years. Duke Energy will continue offering these rebates over the next three years.

In 2018, Duke Energy connected more than 500 MW of new solar capacity ? enough to power about 100,000 homes at peak output.

Duke Energy also launched a competitive bidding process for new solar capacity. The process, overseen by an independent administrator, contracted for more than 600 MW of new solar capacity in 2019 ? enough to power about 120,000 homes at peak output. The program is ensuring the best and most cost-effective projects are built to benefit customers in the Carolinas. A second round of bidding is expected to begin in October.

In 2018, Duke Energy also became one of the few companies in the Carolinas to offer solar leasing to commercial customers. A subsidiary of Duke Energy will build, own and operate on-site solar facilities that will allow customers in North Carolina and South Carolina to access renewable energy without paying a large upfront investment.

About Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.

Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states ? North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states ? North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.

Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains 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: Randy Wheeless
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SOURCE Duke Energy