At-a-Glance
Duke Energy Corporation is working toward achieving net-zero carbon emissions by 2050 and recently announced that natural gas is a key part of its strategy to meet this goal. In its latest climate report, the utility argued that natural gas remains crucial as demand peaks, to balance electric grids and continues to be more affordable than battery storage. To learn more, read “Duke’s Emission-Free Path Doesn’t Include Quitting Fossil Fuel.”
Key Takeaways
- Over time, Duke will cut back on its natural gas use as it continues toward its net-zero emissions goal.
- According to the report, battery storage could cost three to four times as much as using natural gas.
- Duke will also leverage its nuclear fleet and may require advancements in long-term energy storage and carbon-capturing technologies.
- In an interview, Sarah Venuto, Duke’s vice president of public policy, remarked, “The fact of the matter is we are committed to this goal. That does not mean it’s going to be without challenges.”
Path to 100% Perspective
Duke’s climate report indicates the utility can meet its net-zero carbon emission goal more affordably and easily by leveraging natural gas. While the utility intends to eventually cut back on natural gas use in the long term, relying on natural gas on its path to net-zero emissions is a financially feasible decision for ratepayers. This move indicates that a mix of different technologies and fuels will be important for reaching zero carbon targets.
Photo: Charles Mostoller/Bloomberg