#United States #Duke Energy #South Carolina #Greenville #PowerShare Storage

Duke Energy's Innovative Program for Nonresidential Customers

Duke Energy is taking steps to help nonresidential customers significantly reduce their energy costs through a new demand response program called PowerShare Storage. Recently approved by the Public Service Commission of South Carolina, this initiative not only offers financial incentives to eligible customers but also supports the overall reliability of the electric grid as the state continues to grow.

Understanding the PowerShare Storage Program

The PowerShare Storage program allows nonresidential customers to enroll energy storage systems for incentives. When participating, customers can earn bill credits while also assisting in grid stability during peak demand periods. The energy storage systems function by capturing energy when it's plentiful and delivering it when the grid needs it most, thus acting as a backup power source.

Benefits of Energy Storage Systems

Energy storage is becoming increasingly vital for maintaining the reliability and efficiency of the electric grid. By storing excess energy and discharging it during peak demand, these systems not only make the grid more stable but also facilitate a broader integration of renewable energy sources. For instance, businesses can see cost reductions during high-demand periods, such as winter mornings or summer evenings, thanks to the flexibility that storage solutions provide.

How it Works

Participation in the PowerShare Storage program is straightforward. Eligible customers can enroll their energy storage systems, which must meet specific requirements. Once enrolled, they can receive multiple types of incentives:

• - Connectivity Credit: Customers can receive a one-time credit of $120 per kilowatt for connecting systems that meet program criteria. If the stored energy is charged using renewable energy, an additional $30 credit per kilowatt is available.
• - Monthly Capacity Credit: For every enrolled kilowatt, customers can earn a monthly capacity credit of $3.50, minus system losses that are independently verified.
• - Energy Curtailment Credit: During curtailment events, customers can earn a credit of $0.10 per kilowatt-hour for energy utilized.

These incentives can lead to predictable financial returns for participants, allowing them to contribute positively to energy management while benefiting from savings on their bills.

Participation Flexibility

One of the noteworthy aspects of the PowerShare Storage program is its flexibility. Duke Energy can request the temporary discharge of storage systems between 30 and 36 times a year, with each event not exceeding four hours in duration. However, participating customers maintain the option to opt out of up to four events annually, including two during winter months, thereby providing them with a balance of participation and control.

Looking Towards the Future

Duke Energy is set to launch the PowerShare Storage program in South Carolina starting August 2026. This initiative not only aims to ease costs for nonresidential customers but also underscores the company's commitment to advancing grid modernization while planning for future energy requirements.

Tim Pearson, the South Carolina president for Duke Energy, emphasized the program's significance, stating, "It's a priority for us to save every dollar we can for our customers, who are essential partners in our work to modernize and maximize the grid and keep it operationally reliable for everyone. PowerShare Storage is one of the ways we are innovating for customers while preparing for the grid of tomorrow."

Overall, the PowerShare Storage program represents a major initiative by Duke Energy to not only help nonresidential customers manage their energy expenses but also contribute to the long-term stability and reliability of the South Carolina electric grid. By leveraging innovative storage solutions, Duke Energy is paving the way for a more sustainable energy future.

Conclusion

As energy demands continue to rise, programs like PowerShare Storage will play a crucial role in equipping nonresidential customers with the tools they need to navigate their energy use efficiently. For more information on the PowerShare Storage program, nonresidential customers can reach out to their utility account representatives or contact Duke Energy via email.