The clean energy revolution is gathering pace amid growing calls to combat carbon emissions. Investments towards clean energy sources are on the rise as companies and entities look to combat global warming. Duke Energy Corp (NYSE:DUK) is one of the companies spearheading the clean energy revolution.
Duke Energy Windpower Project
Through its renewable energy unit Duke Energy Renewables, the company has unveiled its fleet’s largest wind power project. The 350 megawatt Frontier Windpower II Project in Kay County Oka is expanding the 200MW Frontier Wind power project. The new plant is already eliciting interest AT&T and Ball Corporation having already signed a 15-year virtual power purchase agreement.
The purchase by AT&T is part of a bigger plan as the company looks to reach carbon neutrality by 2035. The company already has 1.5 Gigawatts of renewable energy capacity with its portfolio delivering clean electricity to the grid. Ball Corporation, on its part, is planning to reduce its greenhouse gas emission by 55% by 2030, thus the virtual power purchase agreement signed with Duke Energy.
Electric Charging Station
The clean energy revolution is turning out to be the catalyst behind the increased uptake of electric cars. Carbon-free cars are in high demand across the country as people acknowledge the need to trim carbon emissions.
Amid the influx of electric cars on the road, four more energy companies have joined six others to support the use of electric vehicles in the Mid-West US. Duke Energy, Mid-American Liberty, and Midwest Energy Emissions Corp (OTCMKTS: MEEC) are the latest to Join Ameren to develop charging stations for electric cars across the 1200 miles between Detroit and Colorado.
Construction of the network of stations is part of an effort that seeks to offer ample charging locations along the way in response to the increased EV adoption. The number of electric cars on US roads is poised to increase from 1.5 million to 18.7 million by 2030.
Minnesota Clean Energy Ambitions
Separately, the Minnesota Chamber of Commerce has affirmed its commitment to clean, reliable, and affordable energy. The affirmation comes at a time when the state is making huge strides towards carbon neutrality.
The amount of renewable energy on the state’s electricity grid is up from 5% as of 2005 to more than 25%. The state’s electric system is 50% carbon-free and on course to hit the 70% milestone.