June 10, 2008
LOS ANGELES – Duke Energy Corp (DUK) said Monday it plans to spend US$100 million to install solar panels at up to 850 homes, schools, stores and factories in North Carolina.
The plan, which requires approval from the North Carolina Utilities Commission, will help Duke meet the state’s requirement that 12.5 percent of its power come from renewables or energy efficiency projects by 2021. By 2010, 0.02 percent of Duke’s energy sold to customers must come from solar.
If approved, Duke would spend two years installing 20 megawatts (MW) of solar panels. The project would help power more than 2,600 homes, the company said in a statement.
Duke’s Carolinas utility would own and operate the solar equipment. The company plans to recover its US$100 million investment through North Carolina’s cost recovery program for renewable energy projects.
