Clean generation remains Duke Energy’s focus as renewable energy is set to triple in this decade, Duke Energy

• 23% of the energy generated by 2030 should be wind, solar and hydropower

• The switch to clean energy was set out in the sustainability report that has just been published

CHARLOTTE, NC – By the end of this decade, renewable energy will make up a large part of the company’s generation mix as Duke Energy (NYSE: DUK) seeks to triple the amount of renewable energy produced by the company’s power plants and reduce CO2 – drastically reduce emissions.

This information, along with vast amounts of other data, was presented today in Duke Energy’s 15th Sustainability Report, the company’s annual environmental, social and governance (ESG) disclosure.

“Duke Energy has a clear line of sight to reduce our carbon emissions by at least 50% by 2030 and is making tremendous strides towards zero net carbon emissions by 2050. We are already leaders in our industry when it comes to low emissions -carbon intensity. This next decade will also be our largest yet to add thousands of megawatts of new renewable energy generation to our portfolio, ”said Katherine Neebe, Duke Energy Vice President, National Engagement and Strategy, Chief Sustainability Officer and President of the Duke Energy Foundation.

Currently, 7% of Duke Energy’s proprietary electrical power comes from wind, solar and hydroelectric plants. This number is expected to increase to 23% by 2030.

The company is conducting its aggressive renewable energy expansions with wind and solar projects currently under construction in Florida, North Carolina, Oklahoma and Texas. Over the next three years, the company will add 280 megawatts of pumped storage capacity to its Bad Creek, South Carolina facility.

Duke Energy’s carbon-free generation is also supported by the Carolinas’ six nuclear power plants, which produced 35% of their total electrical output in 2020.

Among the other highlights in the report:

• The company is overseeing the largest coal retirement in the industry and announcing the deadlines for the remaining coal-fired power plants. Since 2010, Duke Energy has shut down 51 coal-fired power plants, according to a table in the report. Another unit was retired last month, bringing the total to 52.
• For the first time, Duke Energy is sharing expanded employee diversity data submitted to the Equal Employment Opportunity Commission.
• Duke Energy and its foundation donated more than $ 8 million to COVID-19 relief efforts in 2020, and more than $ 2 million was donated by the Duke Energy Foundation to social and racial justice organizations.
• The company’s economic development team helped attract nearly 18,000 new jobs and $ 9.1 billion in capital investments to its service areas.
• The company’s total carbon dioxide emissions continue to decrease – by more than 40% since 2005. The company aims to reduce its CO2 emissions by at least 50% by 2030.
• Duke Energy continues to offer customers in all customer categories – residential, commercial and industrial – excellent value for money with high reliability and retail electricity tariffs that are below the national average.

Today’s report continues Duke Energy’s history of transparency and sharing progress on climate change and other ESG matters.

Yesterday, the company announced a new comprehensive brand for its unregulated commercial renewable energy business – Duke Energy Sustainable Solutions.

The brand brings together products and services offered by several Duke Energy subsidiaries, including Duke Energy Renewables, REC Solar and Duke Energy One. The team will continue to leverage Duke Energy’s vast industry experience to deliver the sustainable energy solutions customers need and want, while empowering them to have measurable impact, reduce emissions and increase resilience.

About Duke Energy

Duke Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, NC, is one of America’s largest energy holding companies. The electricity companies serve 7.9 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky and have a combined energy capacity of 51,000 megawatts. The natural gas facility serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 27,500 people.

Duke Energy has an aggressive clean energy strategy to deliver a smarter energy future for its customers and communities, with a goal of at least 50 percent carbon reductions by 2030 and net carbon emissions by 2050. The company is a leader renewable energy provider in the United States on track to operate or purchase 16,000 megawatts of renewable energy by 2025. The company is also investing in major grid modernizations and battery storage expansion, as well as research into zero-emission power generation technologies such as hydrogen and advanced nuclear power plants.

Duke Energy was named to Fortune’s “World’s Most Admired Companies” list of 2021 and “America’s Best Employers” by Forbes. Further information is available at duke-energy.com. The Duke Energy News Center contains press releases, fact sheets, photos and videos. Duke Energy lighting features stories about people, innovations, community issues and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Warning language for forward-looking statements

This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management’s beliefs and beliefs. These forward-looking statements are identified by words and expressions such as “anticipate”, “believe”, “intend”, “estimate”, “expect”, “continue”, “should”, “could”, “may”, “may”. Plan, project, forecast, will, potential, forecast, goal, outlook, guidance and similar expressions. Various factors could cause actual results to differ materially from those suggested in any forward-looking statement. Accordingly, no guarantee can be given that such results will be achieved. These risks and uncertainties are set out in Duke Energy’s most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) and available on the SEC’s website at www , identified and discussed. sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements may not occur, or to a different extent, or at a different time than described by Duke Energy. Duke Energy expressly disclaims any obligation to publicly update or revise any forward-looking statements as a result of new information, future events, or for any other reason.

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