Duke Energy: Indiana’s energy grid ‘will be restored’ by 2022

  • October 20, 2021

By Shannon HealyThe Irish Times | March 19, 2021 08:48:02With the state-owned electric utility Duke Energy announcing last week it will restore its power grid to meet demand by 2022, it is the latest step in a long and complex effort to secure the future of the state’s energy network.

In the past, the utility has sought to recover lost capacity through an aggressive buy-back programme, which has been criticized by residents and environmental groups.

The company has also faced criticism over a deal to sell the power network to a Chinese energy giant.

The utility has said the sale would have been possible under a new plan put in place by former Governor Mitch Daniels.

Duke Energy’s acquisition of a 49.9% stake in a joint venture to manage its energy supply is one of the latest steps in a lengthy and complex project to revitalise the state.

The transaction is expected to be completed by the end of this year, with a return to the state grid of full power by 2022.

Under the plan, Duke Energy will sell the remaining 49.7% of its power to a consortium of companies, which will maintain its assets and remain under the control of the utility.

In a statement on Monday, Duke said the transaction was “a win-win for the State of Indiana, the communities we serve and the environment.”

It said it is “working diligently to ensure the best possible future for Indiana residents and the state of Indiana as a whole”.

The utility is seeking to sell a 49% stake of its assets to a joint-venture consortium, and the consortium will maintain control of its remaining 49% of the power system.

“Duke believes this sale is a win-lose-win, as we will continue to serve customers, create jobs and grow our business,” said Jeff Ritter, a Duke spokesman.

Dakota Power, the state power authority, is working with Duke Energy and other parties to finalise the transaction.

Dale Sturgess, the president of the Indiana Utility Association, welcomed the deal, saying the deal gives “a long-term investment that will help build a stronger electric grid”.

“We are pleased that Duke Energy is able to support our local communities by taking on these challenging projects,” he said.

The deal comes amid a wave of job losses at the utility, as it struggles to recover from the massive blackouts that have struck the state this winter.

The state’s total energy demand is predicted to rise from about 15,000 megawatts in 2020 to about 21,000MW by 2030.

The Duke deal has been hailed by Indiana’s Democratic Governor Mike Pence, who has been critical of the coal industry’s investment in the state and said in May that he was considering a moratorium on coal-fired electricity.

The state has also invested $100 million in solar power plants in order to reduce the statewide blackouts.

How to reduce energy costs, boost growth in the future

  • August 16, 2021

Fox News host Gretchen Carlson reported on Friday that an investment of $1 trillion over the next 10 years could increase domestic energy efficiency and generate as much as $30 trillion in new economic activity.

“We need to do something that’s going to be sustainable,” Carlson said, “because we’re not going to do that.”

The host said the country could reduce energy consumption by 40 percent by 2030 if the energy-efficient homes and businesses were built and installed.

She noted that the cost of a solar panel is just $200,000.

A solar panel costs $100,000, Carlson said.

“That’s about the same cost of installing an average American home,” Carlson added.

“The cost of an average family home today is $1,800 a year.”

In 2016, Carlson also said, the U.S. could become the world’s most energy-secure nation by 2040.

She said that by 2035, Americans would be able to produce energy from wind, solar, biomass, geothermal, nuclear and biofuels.

“A lot of energy is generated by natural gas, which is about 40 percent of our total energy consumption,” she said.

She also said that the U of A’s wind power production could increase by 40 per cent by 2030, and could even generate enough energy to power about 6 million homes.

The Fox News Channel contributed to this report.

When are we going to get the solar panels off our roofs?

  • July 18, 2021

Google News Search results (India), by keyword (India, solar) Renewable energy sources (India and South Africa), renewable energy source Google Trends (India & US), solar energy source (India); solar power sources (South Africa and India); wind power sources and wind energy sources source Google.com (India)* Source: Google Trends, February 2018.

Source: Google.

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