Duke Energy announced $13 billion, 10-year project to strengthen North Carolina’s energy grid
Duke Energy announced a $13 billion, 10-year project to modernize and strengthen North Carolina’s energy grid.
These upgrades will strengthen the system against storms and outages; help expand renewable energy; generate jobs and stimulate economic growth.
10-year modernization plan for NC will result in:
- Additional bill-lowering tools designed to help customers reduce their energy costs
- An average of 13,900 jobs each year
- $10.4 billion in salaries and wages
- Almost $800 million in state taxes and $550 million in local taxes
- A total economic output of $21.5 billion over the 10 years
Duke initiative will help the company better serve its customers with focused investments that:
- Move targeted power lines underground to help reduce outages;
- enhance grid technologies to self-identify problems and reroute power, decreasing outage numbers and duration;
- advance smart metering infrastructure to enable more bill-lowering tools;
- protect against physical and cyber-security threats and keep the grid safe; and
- support the sustainable growth of renewable energy and emerging technologies.
Duke Energy’s North Carolina president, David Fountain said that they have been working hard to generate cleaner, smarter electricity, and now they must invest to make the system that delivers that energy even smarter.
Image Source: Duke Energy