Duke drags its feet on the energy transition

While the U.S. utility sector was largely opposed to the deployment of renewable energy five or ten years ago, a number of leading utilities have changed their tune in recent years, and are choosing to embrace the future instead of fighting it. This includes Xcel Energy, which has set a 2050 target for full decarbonization of its fleet, Avista which has set a 2045 target and Public Service Company of New Mexico which has a 2040 goal. In all cases these utilities serve states where mandates had either passed or were pending, but that can’t be said of Florida Power & Light, which plans to deploy more than 10 GW of solar by 2030, or of Consumer’s Energy, which plans to add 5 GW of solar by 2030 – in Michigan, no less. And then there is Duke. Duke talks a good fight, and there is never a shortage of announcements from the power company’s PR department about their deployment of renewable energy and energy storage. Duke would even like to take credit for the rapid deployment of large-scale solar in North Carolina. The reality is that Duke fought the policy that enabled the deployment of that solar, tooth and nail. And following Duke disabling PURPA, the solar market in North Carolina has significantly contracted.