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Duke Energy Corporation DUK has issued a request for proposals (RFP) to bring into service 53 megawatts (“MW”) of utility-scale solar capacity in South Carolina. The proposal is aimed at ensuring the supply of solar power in the company’s service areas in the region by the end of 2016.
The company is now waiting for bids, which may comprise power purchase agreements and/or Duke assuming ownership of the project. The proposed projects will have a capacity between 1 MW and 10 MW.
This proposal is a step toward a solar energy development plan under the South Carolina Distributed Energy Resource Program Act.
In a separate RFP, Duke Energy announced that it is looking for up to 5 MW of solar capacity for the Shared Solar Program. This program allows customers to subscribe to the output of a particular solar farm. Capacity of these projects should be around 250 kilowatts (KW) to 1 MW. The project is expected to be especially lucrative for those customers who are unable to install solar panels in their premises.
Both the RFPs have a deadline of mid-October this year.
We note that South Carolina customers are also offered a rebate program of $1 per watt for new rooftop or ground-mounted solar installations of up to 1 MW. Rebates are upon the completion of the solar facility, which means that a typical 5-KW rooftop system would fetch around $5,000 in rebate. Customers who have installed solar facility after Jan 1, 2015 can sign up for rebates beginning Oct 13.
Duke Energy’s efforts on expanding its renewable asset base in the light of increasingly stringent environmental regulations are appreciable. The company expects its portfolio of wind and solar to witness tremendous growth backed by a projected investment of about $2 billion over the next three years. It expects to have about 2000 MW of wind and solar electricity generation by 2015.
Duke Energy currently has a Zacks Rank #3 (Hold). Better-ranked companies in the utility sector include DTE Energy Company DTE, American Electric Power Co. AEP and Edison International EIX, each carrying a Zacks Rank #2 (Buy).
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Duke Energy
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CODE : DUK |
ISIN : US26441C2044 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Duke Energy is a and oil producing company based in United states of america. Duke Energy is listed in United States of America. Its market capitalisation is US$ 68.4 billions as of today (€ 63.9 billions). Its stock quote reached its lowest recent point on May 02, 2003 at US$ 10.00, and its highest recent level on February 17, 2023 at US$ 99.99. Duke Energy has 700 299 523 shares outstanding. |