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Powering a Growing Region

Powering a Growing Region

Making smart investments in our energy future is a priority for Duke Energy – one that focuses on delivering reliable, affordable service every day to the customers and communities we serve, and on transitioning to cleaner energy options and a lower carbon future.

The Carolinas are experiencing tremendous near-term growth in electric demand, fueled by economic development successes in both North Carolina and South Carolina, as well as population growth and ongoing electrification needs to support the expansion of electric vehicles. 

The enduring appeal of the Carolinas as a place to live, work and grow has resulted in continued demand growth. Duke Energy is working hard to stay ahead of that growth, with a diverse mix of generation sources to continue powering lives and ongoing economic success in the region.

The Carolinas have an urgent need for new electric infrastructure to meet growing energy demand. Much of that new demand comes from manufacturing and technology projects that have grown across the Carolinas, including many associated with the electric transportation sector.

Over the next 15 years, annual electric use by Duke Energy customers in the Carolinas (retail and wholesale) is projected to increase by around 58,000 gigawatt-hours – more than the annual electric consumption of five states combined: Delaware, Hawaii, Maine, New Hampshire and Wyoming. (Source: EIA 2022 State Electricity Profiles.)

Those forecasts continue to grow. The company’s fall 2023 load growth forecast is around 50 percent higher than the spring forecast, and 8 times higher than the 2022 forecast.

Given the economic growth that this region is enjoying, new generation that’s available 24/7 – in all weather conditions – will be needed in both South Carolina and North Carolina within the coming decade.

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