Duke Energy putting money into renewables

Wednesday, April 25, 2012 @ 09:04 AM
posted by rene5432

Some electricity companies have been hesitant to really push for green energy, worried that businesses and residents will object if electricity prices rise, even though that tends to happen even without renewables.

But not every company has been so slow to adopt renewable electricity. Forbes reports that Duke Energy, one of the largest utility companies in the country, has put huge amounts of money into green energy sources ranging from wind power to biogas.

Since 2007, the company has spent nearly $2.5 billion on wind power alone, already boasting around 1 gigawatt of wind capacity. But that number is expected to rise dramatically over the course of the next year, with five new wind farms coming online with another 770 megawatts of capacity.

Meanwhile, more traditional hydroelectricity contributes 6 gigawatts of renewable electricity.

Duke Energy serves as the utility company for customers across the eastern U.S., from Indiana, Ohio and Kentucky to the Carolinas. While only Ohio out of that group offers residents choice through electricity deregulation, Duke allows customers to use a greater amount of renewable electricity if they prefer.

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