The World's #1 Renewable Energy Network for News, Information, and Companies.

Duke Explores Rooftop Solar as Panels Slow Electricity Demand, CEO Says

Duke Explores Rooftop Solar as Panels Slow Electricity Demand, CEO Says

Duke Energy Corp., the largest U.S. utility owner, may expand into rooftop solar as wider use of photovoltaic panels by customers cuts into demand for electricity in states including California, Chief Executive Officer Jim Rogers said.

Rooftop panels are gaining popularity as the industry faces “anemic” growth in power demand that may redefine the traditional utility business model, as this growth makes it difficult to predict long-term energy demand, Rogers said at an analyst meeting in New York today.

“It is obviously a potential threat to us over the long term and an opportunity in the short term,” Rogers said in an interview after the meeting.

“If the cost of solar panels keeps coming down, installation costs come down and if they combine solar with battery technology and a power management system, then we have someone just using us for backup,” he said.

Duke, based in Charlotte, North Carolina, has built 1,600 megawatts of wind generation and 100 megawatts of solar since entering the renewable-electricity business in 2007 with the purchase of the wind developer Tierra Energy. It bought a second wind-farm developer, Catamount Energy Corp., for $240 million in 2008.

Rooftop photovoltaic panels are more common in California, the biggest U.S. solar market, than in North Carolina, where Duke has the most customers, Chief Financial Officer Lynn Good said in the interview.

“We’re certainly looking at the economics of residential and rooftop solar,” Good said. “The financing of these investments also needs to be explored.”

Duke has capital available to fund an expansion into rooftop solar if the company decides to pursue the market, Good said. “Our thinking hasn’t matured to the point that we’re actively pursuing anything.”

Copyright 2013 Bloomberg

Lead image: Rooftop solar via Shutterstock

RELATED ARTICLES

Clock sky

German Utility's Race for Renewables Seen as Too Little, Too Late

Tino Andresen, Bloomberg

RWE AG, the German utility whose coal-fired plants make it Europe’s largest carbon emitter, officially started the company’s largest renewables project on Thursday: a wind farm in Liverpool Bay off Britain’s coast.

money pile

Deeper Capital Markets for Renewable Energy

Tomas Gardfors and Ann Vesely, Norton Rose Fulbright Following the global financial crisis, a more diversified funding market is developing in Europe. Institutional investors are helping to fill the funding gap left by the contraction in bank lending in the wake of the crisi...
Vatican City

Where Coal Was King, Pope's Climate Warning Faces a Tricky Sell

Alex Nussbaum and Tim Loh, Bloomberg

In West Virginia, where workers have harvested coal seams for centuries, Pope Francis’ new warning about the risks of fossil fuels will find skepticism even among the faithful.

Clean planet

Renewable Energy Responsible for First Ever Carbon Emissions Stabilization

Vince Font, Contributing Editor Carbon emissions in 2014 remained at the previous year’s levels of 32.3 billion metric tons — a milestone that points to the impact worldwide renewable energy investment is having in the face of a 1.5 percent annual increa...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 3
1505REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

FEATURED PARTNERS



EVENTS

SAP for Utilities

The SAP for Utilities conference is the most comprehensive SAP for Utili...

ImagineSolar | Advanced Lab Day: Solar PV Design & Installation (Au...

Advanced Lab Day: System Design & Installation  $195 – 8 ...

ImagineSolar | Advanced Online: Solar PV System Design & NABCEP Exa...

Advanced Online Solar PV System Design & NABCEP Exam Prep $695 &ndas...

COMPANY BLOGS

8 Bad Habits Of Communication

Effective communication is essential in building rapport and closing sal...

The Almost There Markets: Just Give ‘Em Some Time

Earlier this year, we reported on recent legalization of third party fin...

Install Video [Tile Flashing System]: It Doesn’t Get Much Easier Th...

Looking for a fast, easy install on tile roofing?  Give our Ti...

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS