By Editors of Power Engineering
Duke Energy Carolinas has reached an agreement that would slash its 10-year grid modernization plan from $7.8 billion to $2.5 billion, but it would also increase renewable and energy storage development.
The agreement between several environmental groups and the Commercial Group, a coalition of retailers, also encourages rebates and incentives for electric car charging stations, the Greensboro News & Record reported.
Energy storage initiatives have grown to 300 MW by 2026, Greentech Media reported.
Much of what was cut involved hardening and undergrounding the traditional wire system, though some funds for wire hardening remain, especially for areas prone to hurricanes.