Duke Energy plans $76 mn investment in EV business in North Carolina

DUKE ENERGY

Duke Energy has proposed $76 million investment in electric vehicle (EV) infrastructure in North Carolina to boost EV adoption across the state.

Duke Energy in a filing with the North Carolina Utilities Commission (NCUC) outlined its program that will provide incentives to customers. It will lead to a network of fast-charging stations to meet demand.

Lang Reynolds, Duke Energy’s director of Electrification Strategy, said: “This initiative will help accelerate public and private EV use while also reducing carbon emissions.”

Duke Energy’s proposal will help fund the adoption of electric school buses, electric public transportation, and will lead to almost 2,500 new charging stations in the state.

Currently, North Carolina has more than 10,000 plug-in hybrid and all-electric vehicles. It has approximately 600 public charging stations. This program would more than double that amount.

This program will provide a $1,000 rebate for qualifying Level II charging stations for up to 800 residential customers. Level II charging allows customers to charge their EVs up to six times faster than a standard wall outlet.

Duke Energy will install and operate more than 800 public charging stations across North Carolina, including DC Fast Charging, Public Level II and multifamily locations, which will expand the state’s network of EV charging stations.

The program will provide a $2,500 rebate for 900 qualifying charging stations for commercial and industrial customers who operate fleets that are transitioning to electric and plug-in hybrid vehicles. Municipalities and universities also qualify for these rebates.

Duke Energy will provide financial support to eligible customers to procure up to 85 electric school buses. Duke Energy will install the associated charging infrastructure.

Duke Energy will install and operate more than 100 electric transit bus charging stations for eligible transit agencies electing to procure electric buses. Electric transit buses eliminate diesel emissions and reduce fuel and maintenance costs for transit agencies.

The program follows a similar $10.4 million program being considered by the Public Service Commission of South Carolina.