New Duke Energy program helps South Carolina nonresidential customers lower costs while supporting a growing grid
- PowerShare Storage offers bill credits to customers who enroll a qualifying energy storage system
- Program builds on solutions to help ensure long-term grid reliability and resilience
GREENVILLE, S.C.,
Why it matters: An energy storage system functions like a backup power source, capturing energy when it's available, and delivering it when customers need it most. Storage-based demand response programs enhance this benefit by helping customers reduce costs while supporting grid reliability during times of peak demand. PowerShare® Storage expands
The big picture: Customer-sited storage – whether in homes or businesses – plays an increasingly important role in keeping the electric grid reliable, stable and cost-effective. By storing energy when surplus resources are available and releasing it when demand is highest, these systems help accommodate more renewable generation while supporting customers during periods of peak use, such as winter mornings or summer evenings.
Today, nearly 500,000 customers in the Carolinas participate in Duke Energy demand response programs, helping reduce system costs and strengthen reliability across the electric grid. This broad participation helps keep rates lower for all customers – not just those enrolled. Through the PowerShare Storage program, nonresidential customers now have additional opportunities to manage energy costs while contributing to overall grid reliability.
By the numbers: The program offers customers up to three types of incentives that reward participation and support a reliable electric grid.
- First, customers can receive a one-time connectivity credit of
$120 per kilowatt when their system meets program connection requirements. Customers whose battery storage systems are charged using renewable energy may also qualify for an additional$30 credit per kilowatt. - Customers also earn a monthly capacity credit of
$3.50 per enrolled kilowatt, minus a factor for system losses that is independently verified. - In addition, customers earn an energy curtailment credit of
$0.10 per kilowatt hour for energy used during curtailment events each billing cycle. - Combined, these incentives provide customers with predictable returns in exchange for making stored energy available when the grid needs it most.
By enrolling in the program, customers allow Duke Energy to temporarily discharge their systems between 30 and 36 times per year, with each event lasting no more than four hours. Customers maintain flexibility through the program, with the ability to opt out of up to four events per year – including two during winter months – while remaining eligible for bill credits. Duke Energy will begin to operate PowerShare Storage in
What they're saying:
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in
Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.
More information is available at duke-energy.com. Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook for stories about the people and innovations powering its communities.
Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
