Duke Energy Corporation (holding Company) · NYSE:DUK
Duke Energy Corporation (holding Company) — Corporate Update (July 2024)
39 slides from Duke Energy Corporation (holding Company)'s corporate update, Jul 25, 2024
Slide 1: Duke Energy Carolinas Collaborative Meeting
Duke Energy Carolinas Collaborative Meeting July 25, 2024
Slide 2: Agenda
Agenda Introductions and Safety Minute Regulatory Update Recovery filings Program filings Mechanism Review Status IRA Ongoing Discussion High Energy Use Pilot Update Res Battery Demand Response Update Residential Program Modifications – 90 Day Filing Non-Res Program Modifications
Slide 3: Safety
Safety Source: City of Hartsville – Mosquito Control (hartsvillesc.gov)
Slide 4: Regulatory Update
Regulatory Update North Carolina South Carolina Program filings DEC Filing - E-7 sub 1305 DEC Filing – 2024-97-E SC Battery DR Filed Feb 27 Filed March 15 NC Mechanism Approval LI Multifamily Working Group DEP Filing – E-2 sub 1342 DEP Filing – 2024-196-E Filed June Filed July 1 ToB Update
Slide 5: Improve & Save Update
Improve & Save Update Started with a soft launch to validate operational and back-office processes and get customer feedback Completed 22 audits and delivered 22 proposals Six home audits not completed for health and safety reasons Completed two installs One customer received an HVAC, Duct
Slide 6: 2024 Priorities
2024 Priorities Add attorneys acting as legal counsel? Add to Collaborative distribution list and include in working groups Scoping strategies to deliver maximum impact to low-income communities Aid in IRA distributions with SEOs Revisit opportunities for MF pilot Potential to coordinate
Slide 7: IRA Ongoing Discussion Update
IRA Ongoing Discussion Update
Slide 8: North Carolina Submitted Application on 6/28/24
North Carolina Submitted Application on 6/28/24 | 8
Slide 9: IRA Home Energy Rebates and Duke Energy
IRA Home Energy Rebates and Duke Energy Partnering with North Carolina State Energy Office on utility data access blue print, with additional conversations upcoming (mid-July) As part of our 90 day filing, we are looking at program modifications to further align with IRA Home Energy Rebates oppo
Slide 10: High Energy Use Pilot Update
High Energy Use Pilot Update ls DUKE oy
Slide 11: High Energy Usage Assistance-DEC NC
High Energy Usage Assistance-DEC NC July 2024
Slide 12: Current Production Overview
Current Production Overview • 1705 Applicants • 595 eligible • (297) Audits Completed – (50) Health & Safety • (64) Tenant/Landlord • (118) Pending intake/audit/EE work • (55) projects are scheduled for both audit and EE • Vendor is working with customers to schedule the remainder • (116) Attrition/
Slide 13: HEUP Challenges & Opportunities
HEUP Challenges & Opportunities MOU agreement with City of Charlotte took longer than anticipated With low response and conversion rates from EM/DM, a customer for execution – Executed in Jan 2024 usability survey and study was conducted in March to gain insights This caused a slow ramp-up whi
Slide 14: Survey & Usability Insights
Survey & Usability Insights Key Insights – Survey/UX Study Enhancements/Solutions Reframed messaging around income-qualification requirements in a more Customers expressed a lot of confusion around the IQ comprehensible manner and made them more prominent on all marketing requirements and lack under
Slide 15: HEUP Next Steps
HEUP Next Steps Customer Acquisition Customer Experience & Retention With messaging and web We have also continued to work to Expediting intake & scheduling to Working to identify additional optimizations in place, marketing implement and integrate new tactics minimize touchpoints and downti
Slide 16: Res Battery Demand Response Update
Res Battery Demand Response Update
Slide 17: Duke Energy Battery Program Webinar
Duke Energy Battery Program Webinar Power Manager® & EnergyWise® Home June 12, 2024
Slide 18: Customer Journey
Customer Journey Customer and installer selects eligible equipment for installation then connects device to internet Customer and installer sign battery and/or inverter up for program via app and/or, Power Manager (DEC) and EnergyWise Home (DEP) websites Customer eligibility is confirmed, and a conn
Slide 19: Eligibility Requirements
Eligibility Requirements Residential Duke Energy Carolinas (DEC) or Duke Energy Progress (DEP) customer Complete an interconnection application with Duke Energy and remain compliant with the interconnection standards Have an eligible battery installed Maintain a reliable internet connection
Slide 20: Website and Enrollment
Website and Enrollment Power Manager Battery Control https://www.duke-energy.com/PMBattery EnergyWise Home Battery Control https://www.duke-energy.com/EWHBattery 20 |
Slide 21: Website and Enrollment
Website and Enrollment When you select “Enroll Now” on our webpage, you will be directed to this webpage. Here you will be able to select your battery manufacturer. This will link you to their webpage regarding our program. Examples: Tesla is the VPP option in your app. Fortress, is an application o
Slide 22: Battery Control Events
Battery Control Events Up to 36 battery control events will be called each calendar year (minimum of 30) December-March: Up to 18 events May-September: Up to 9 events April, October, and November: Up to 9 events Battery events may include, but are not limited to, the following: Charging
Slide 23: Bill Credit Calculations
Bill Credit Calculations “$6.50 per kW based on nameplate continuous discharge capacity as defined by the battery manufacturer adjusted by a capability factor.” Monthly incentive = $6.50 * kW discharge nameplate value * 70.9% kW discharge nameplate value 20 kw limit for Battery incentive to align wi
Slide 24: Participants
Participants Applications opened Friday June 21 Over 500 applications have been received 99% Tesla Bill Credits started July 9 Bill credits are the same amount each month $6.50 * kW discharge nameplate * 70.9% capability factor Example Tesla Powerwall 3 - $6.50 * 11.5 * 70.9% = $53 I
Slide 25: Bill Images
Bill Images 25 | Customer Bill Credits
Slide 26: Power Manager Battery Control (DEC) / EnergyWise Home Battery Control (DEP)
Power Manager Battery Control (DEC) PMBattery@duke-energy.com https://www.duke-energy.com/PMBattery EnergyWise Home Battery Control (DEP) EWHBattery@duke-energy.com https://www.duke-energy.com/EWHBattery 26 |
Slide 27: Questions
QUESTIONS 27 |
Slide 28: One-time Reconciliation Filing Summary
One-time Reconciliation Filing Summary The NC Utility Commission approved the DSM/EE Mechanism on May 22nd, ordering the programs to “file a consolidated application seeking modifications of each of its approved programs to reflect changes in program costs (customer incentives) or an explanation as
Slide 29: Residential Program Modifications – 90 Day Filing
Residential Program Modifications – 90 Day Filing
Slide 30: Residential EE Programs Proposed Updates (Significant)
Residential EE Programs Proposed Updates Grow Participation Reduce Customer’s Payback Expand Access Residential Updates Tariff Update Incentives Home Energy House Call • Remove language around eligibility and frequency • Removed limit on 1 audit every 36 • Increased thermostat options (Honeywell, Se
Slide 31: Residential EE Programs Proposed Updates (Moderate)
Residential EE Programs Proposed Updates Grow Participation Reduce Customer’s Payback Expand Access Residential Updates Tariff Update Incentives K12 • Increase flexibility for expanded measure offerings • Removed $30 limit to kit • Added measures like pipe wrap and caulking and increased participati
Slide 32: Income Qualified Programs Proposed Updates
Income Qualified Programs Proposed Updates Grow Participation Lower Barriers Income Qualified Updates Tariff Update Incentives Weatherization • Expand service providers/partners flexibility • Language updated to increase incentives. • Changed the incentive structure to reflect • Expanded how funds c
Slide 33: Residential Demand Response Proposed Updates
Demand Response Proposed Updates Grow Participation Increase Incentives Offer New Measures Level BU Demand Response Updates Power Manager EnergyWise Home Residential DEC DEP DEP-W Residential • Measures added for water heater switch • Tariff – All measures • Increase upfront and ongoing incentives,
Slide 34: Non-Res Program Modifications – 90 Day Filing
Non-Res Program Modifications – 90 Day Filing
Slide 35: Business Programs with Significant Changes Proposed
Business Programs with Significant Changes Proposed Grow Participation Lower Customer’s Payback Lower Barriers Business Updates Tariff Update Incentives Smart $aver • Increase incentive levels for select measures • Large complex jobs require more time to apply • Offer performance incentives based on
Slide 36: Business Demand Response Proposed Updates
Business Demand Response Proposed Updates Grow Participation Increase Incentives Offer New Measures Program Updates Tariff Update Incentives Power Share • Add Mandatory 50 option • Added additional option • Mandatory Curtailment – Capacity Credit Significant • Increase incentives for Mandatory & • L
Slide 37: Wrap Up, Scheduling, Topics for Future Collaborative Meetings
Wrap Up, Scheduling, Topics for Future Collaborative Meetings Carolinas DSM/EE Collaborative - Duke Energy (duke-energy.com)
Slide 38: Smart $aver Proposed Measure Changes and Additions
Smart $aver Proposed Measure Changes and Additions Current 2025 2025 Existing Measures Incentives Incentives New Measures Incentives Heat Pump Water Heater $350.00 $500.00 $ Pool Pump $300.00 $900.00 ASHP to 16 SEER DFHP 80% AFUE - Early Replace 2,500.00 Smart Saver - AC Duct Seal Tier 1 $200.00 $20
Slide 39: Res DR Measure Changes and Additions
Res DR Measure Changes and Additions Current Incentive 2025 Incentive Power Manager EnergyWise Home Power Manager and EnergyWise Home Initial Annual Initial Annual Initial Incentive (One Annual Incentive Incentive Incentive - Incentive Incentive - paid time per residence) (May be paid paid annually