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Duke Energy Florida plans 4 new solar energy sites to deliver $1B in customer savings

DUK
  • Duke Energy Florida filed plans with the Florida Public Service Commission to construct four new solar energy sites by mid-2028.
  • The new facilities will add 300 MW of clean energy to the grid & deliver an estimated $1 billion in customer savings over their operational lifetimes.
  • These sites are located in Orange & Sumter counties, with construction starting between January & May 2027 & completion targeted for June 2028.
  • Specific projects include the Nova, Bull Creek, Hogeye, & Wewahootee Renewable Energy Centers.
  • Each solar site saves customers approximately $250 million in displaced fuel costs during its 30-year operation.
  • Under the Inflation Reduction Act, $75 million in production tax credits are transferred to customers annually, reducing bills by at least $2.50 per 1,000 kilowatt-hours.
  • Environmental benefits include saving 1.1 million cubic feet of natural gas, 12,000 barrels of fuel oil, & 9,000 tons of coal annually per site.
  • Duke Energy Florida is integrating utility-scale batteries to store energy for use when the sun is not shining.
  • The company plans to build over 1 gigawatt of battery storage over the next 10 years to pass additional investment tax credit savings to customers.
  • An innovative tax strategy will accelerate credits from the Powerline Battery Energy Storage System in Citrus County to avoid a base rate increase in 2027.
  • Duke Energy Florida currently operates 25 solar sites providing 1,850 MW & serves 2 million customers across a 13,000-square-mile service area.
  • The parent company, Duke Energy, serves 8.7 million electric customers & 1.6 million natural gas customers across six states.
Company
Duke Energy
Keywords
Duke Energy