Our Carolinas Resource Plan is Duke Energy’s proposed roadmap for North Carolina and South Carolina – delivering a path to cleaner energy without compromising grid reliability, energy affordability or the energy demands of a growing region.
The utility industry is continuing its exit from coal in response to mounting pressures that threaten the long-term reliability of coal plants. Duke Energy’s new resource plan maps out how to replace these facilities in a manner that continues to provide economic benefit to the Carolinas.
The plan includes new resources and an increased reserve margin to facilitate jobs and investment while providing equal or greater reliability. Based on accelerating economic development in the two states, Duke Energy’s load growth is projected to surge by around 35,000 gigawatt-hours in the next 15 years – more than the annual electric generation of Delaware, Maine and New Hampshire combined. The resource plan proposes infrastructure investments of more than $90 billion to meet this need.
The plan balances traditional forms of dispatchable, on-demand resources (advanced nuclear, natural gas and pumped hydro storage) with a growing amount of complementary renewables that can deliver fuel-free energy. By targeting carbon neutrality by 2050, the plan will also help achieve customer sustainability goals, including those of the largest employers in both South Carolina and North Carolina.
The robust economic development success we are experiencing in the Carolinas continues to grow. Compared to the 2023 spring load forecast used to develop the 2023 Carolinas Resource Plan, the peak load growth in the updated 2023 fall load forecast has increased by approximately 2,000 megawatts. Given this unprecedented increase in projected load growth, Duke Energy provided regulators with supplemental modeling on Jan. 31, 2024 – please see the load growth fact sheet for more.
At a Glance
- An all of the above strategy – to protect reliability for our customers and communities
- Three core portfolios with 23 variations – all retire coal by 2035 and meet carbon neutrality by 2050
- A “most reasonable, least cost” approach – emissions reduction at the lowest possible cost to customers
Appendix B – DEC and DEP System Information
Appendix C – Quantitative Analysis
Appendix D – Electric Load Forecast
Appendix E – Screening of Generation Alternatives
Appendix F – Coal Retirement Analysis
Appendix G – Integrated System and Operations Planning
Appendix H – Grid Edge and Customer Programs
Appendix I – Renewables and Energy Storage
Appendix J – Nuclear
Appendix K – Natural Gas, Low-Carbon Fuels and Hydrogen
Appendix L – Transmission System Planning and Grid Transformation
Appendix M – Reliability and Operational Resilience
Appendix N – Cross Reference
Attachment I – 2023 Resource Adequacy Study
Attachment II – 2022 ELCC Study
Attachment III – 2023 Wind ELCC Study
- March 16 Meeting Slides
- Meeting Videos
- Video 1 - Solar Model Assumptions
- Video 2 - Solar Plus Energy Storage - Part 1
- Video 3 - Solar Plus Energy Storage - Part 2
- Video 4 - Interconnection Assumptions
- Video 5 - Standalone Battery Storage - Part 1
- Video 6 - Standalone Battery Storage - Part 2
- Video 7 - Effective Load Carrying Capability Values
- Meeting Summary