In its newly released 2012 Sustainability Report, Duke Energy has highlighted plans to rely less on coal-fired generation and more on renewable energy.
As part of Duke Energy's $9 billion generation fleet modernization program, the company will retire more than 3.4 GW of older coal-fired units by year-end. That number will grow to 6.3 GW of coal capacity retired over the next few years.
In addition, the company has set a goal of owning or purchasing 6 GW of wind, solar and biomass energy by 2020. The report also reveals that wind power constituted 3,410 MWh, or 1.4%, of the electricity Duke generated in 2012, as well as 1,627 MW, or 6.2%, of the company's generation capacity last year.
‘Greater transformation lies ahead for our company and our industry,’ said Jim Rogers, Duke Energy chairman and CEO, in his letter to stakeholders. ‘Current drivers of change include the shale gas revolution, emerging technologies and anemic growth in energy usage. Also, our nation must address global climate change in a more comprehensive way.’