Amazon, Google, Microsoft, Nucor Pioneer New Clean Energy Investment, Risk Sharing Models with Duke Energy

Tech giants Amazon, Google, and Microsoft, along with steel producer Nucor and electricity provider Duke Energy, have announced agreements aimed at exploring new approaches to support the deployment of carbon-free energy generation. This includes the development of new rate structures to share the risk for new clean energy projects based on emerging technologies. Announced at the White House Summit on Domestic Nuclear Deployment, the agreements propose new rate structures in North Carolina and South Carolina, designed to lower the long-term costs of investing in clean energy technologies through early commitments. Briana Kobor, Google’s Head of Energy Market Innovation, stated that the “Clean Transition Tariff” created a pathway for the tech companies and their peers to bring new, innovative solutions to the forefront faster in a region they have called home for more than 15 years. The new models include proposed “Accelerating Clean Energy (ACE)” tariffs, which aim to address project risk and lower costs for emerging technologies by enabling large energy users to support clean energy investments through innovative financing structures and contributions. The framework would also include a new “Clean Transition Tariff (CTT),” which would match clean energy generation and customer load to accelerate overall grid decarbonization. Lon Huber, Duke Energy’s SVP of Pricing and Customer Solutions, expressed that with the help of these companies, they can accelerate the service of large customer needs and the transition to cleaner energy, while reducing financial risks and supporting economic development in their communities. Resources: https://www.esgtoday.com/amazon-google-microsoft-nucor-pioneer-new-clean-energy-investment-risk-sharing-models-with-duke-energy/