Duke Energy says it can save customers $1B. Here’s how

Four new solar energy sites proposed by Duke Energy Florida could save customers an estimated $1 billion over the sites’ operating lifetimes, mainly by reducing the need to generate electricity using natural gas, oil and other fuels, according to the company.

In a release, the company said each solar site can avoid about $250 million in fuel costs over roughly 30 years.

The four sites would add 300 megawatts of capacity and are planned for Orange and Sumter counties, with construction expected to begin in 2027 and service tentatively scheduled by June 2028, pending approval by the Florida Public Service Commission. They are as follows:

• Orange County — Nova Renewable Energy Center
• • Expected construction start: January 2027
  • Expected completion: February 2028
• Orange County — Bull Creek Renewable Energy Center
• • Expected construction start: March 2027
  • Expected completion: April 2028
• Orange County — Wewahootee Renewable Energy Center
• • Expected construction start: May 2027
  • Expected completion: May 2028
• Sumter County — Hogeye Renewable Energy Center
• • Expected construction start: May 2027
  • Expected completion: June 2028

Duke Energy Florida also says federal production tax credits help lower customer bills by at least $2.50 per 1,000 kilowatt-hours used.

The utility currently transfers about $75 million in these credits to customers annually and says that amount is expected to grow as more solar sites come online.

The company operates 25 solar sites in Florida, with a combined capacity of 1,850 megawatts.

These savings figures are estimates over the facilities’ operating lifetimes; the release does not specify how much an individual customer’s bill would fall because of the four proposed projects.