Duke in solar-development talks with BMW


Charlotte Business Journal – December 20, 2007

It will not be easy to break the US economy reliance on fossil fuels to generate energy. Regardless of goals and caps that are discussed at a political level, the reality is that the economy needs fuel to thrive and sustain itself.

Duke Energy is trying to diversify its portfolio of energy production. As one of the largest producers of electricity in the US, it is also one of the largest users of fossil fuels. Staying on the cutting edge of alternative fuels is critical for a company like this and their experiences are important for the nation and the world at large.

It is also important for their larger customers to look for other ways of satisfying their energy needs. Working in partnership with Duke just makes good economic sense.

Duke Energy Corp.’s talks with BMW Manufacturing Co. about a joint solar project in South Carolina are part of discussions with several industrial customers regarding renewable energy.

Such partnerships could help Charlotte-based Duke (NYSE:DUK) meet its requirements under North Carolina’s new energy law. That law mandates that 12.5 percent of Duke’s power sold in North Carolina come from renewable resources by 2021.

Duke issued a request for proposals for energy from renewable sources this summer. Duke intends to purchase energy from contractors who use solar, wind and other renewables to produce the power.

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