Amazon, Google, Microsoft, Nucor Pioneer New clean energy investment, risk-sharing models with Duke Energy

Technology giants Amazon, Google and Microsoft, steelmaker Nucor and electricity supplier Duke Energy have announced agreements to explore new approaches to support the implementation of zero-emission power generation, including the development of new rate structures to share risk for new clean energy projects based on about new technologies.

Announced during the White House Summit on the National Deployment of Nuclear Power, the agreements include proposals for new rate structures in North and South Carolina aimed at lowering the long-term costs of investing in clean energy technologies through advance commitments.

Briana Kobor, Google, Director of Energy Innovation, said:

“By partnering with Duke Energy, the Clean Transition tariff creates an opportunity for us and our partners to more quickly bring new, innovative solutions to the forefront of the region we have called home for over 15 years.”

The new models include proposed Clean Energy Acceleration (ACE) tariffs, which aim to address project risks to lower the costs of emerging technologies by enabling large energy users to support clean energy investments through innovative financing structures and contributions. ACE tariffs would facilitate on-site energy generation at customer facilities, participation in load-sharing programs, and investment in clean energy assets.

The framework would also include a new Clean Transformation Tariff (CTT), matching clean energy generation to customer load to accelerate overall grid decarbonization. Duke said the CTT capability will enable it to deliver customized portfolios of new zero-emission energy to commercial and industrial customers.

Lon Huber, Duke Energy, vice president of pricing and customer solutions, said:

“With the help of companies like Amazon, Google, Microsoft and Nucor, we can accelerate serving large customer needs and the transition to cleaner energy, while reducing financial risk and supporting economic development in our communities.”