Duke Energy Corporation (holding Company) · NYSE:DUK
Duke Energy Corporation (holding Company) — Corporate Update (May 2024)
75 slides from Duke Energy Corporation (holding Company)'s corporate update, May 22, 2024
Slide 1: Duke Energy Carolinas Collaborative Meeting
Duke Energy Carolinas Collaborative Meeting May 22, 2024
Slide 2: Agenda
Agenda ➢ Introductions and Safety Minute ➢ IRA Ongoing Discussion ➢ Regulatory Update ➢ EM&V - Residential ▪ Recovery filings ➢ Manufactured Homes Winter Peak Study ▪ Program filings – ➢ EM&V – Nonresidential ▪ Income-Qualified DR ➢ Non-Res IRA/IIJA Opportunities ▪ PowerShare Mandatory Plus ▪ Home E
Slide 3: Safety on Heat Stress
Safety on Heat Stress Understanding Heat Stress: Definition: A condition resulting from prolonged exposure to high temperatures, causing the body to overheat. Symptoms: Heavy sweating, weakness, dizziness, nausea, headache, and confusion. Key Takeaways: Preventive Measures: Recognize Symptoms Early:
Slide 4: Regulatory Update
Regulatory Update North Carolina South Carolina ➢ Program filings DEC Filing - E-7 sub 1305 DEC Filing – 2024-97-E ▪ Income-Qualified DR Filed Feb 27 Filed March 15 ▪ PowerShare Mandatory Plus ▪ Home Energy House Call Modification DEP Filing – E-2 sub 1342 DEP Filing – 2024-xx-E ▪ Power Manager/EWH
Slide 5: 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 6: IRA Ongoing Discussion Update
IRA Ongoing Discussion Update
Slide 7: Home Energy Rebates and Duke Energy
Home Energy Rebates and Duke Energy ▪Participated in conversations with SC Energy Office (late April) and North Carolina State Energy Office (mid-May) ▪Duke Energy remains focused on partnering with the states to maximize rebate funding opportunities for our customers * Co-ops and munis not reflecte
Slide 8: Home Energy Rebates Recent FAQ Updates
Home Energy Rebates Recent FAQ Updates | 8
Slide 9: EM&V - Residential
EM&V - Residential =, DUKE Ww’ ENERGY.
Slide 10: Residential Smart Saver (HVAC)
Residential Smart Saver (HVAC) 10
Slide 11: Residential HVAC Program
Residential HVAC Program Impact Evaluation Key Findings Evaluation period: July 2020–March 2022. During that time period, 47.5k measures installed in DEC and almost 23k measures installed in DEP. Savings estimated using metering study, AMI analysis and engineering analysis depending on the measu
Slide 12: Residential HVAC Program
Residential HVAC Program Evaluation Recommendations Consider several online portal improvements: Include better explanations to TAs if applications are returned as invalid Consider auto-population of referral information in TA online portal. Improve the lookup features of the online portal a
Slide 13: Save Energy & Water Kit
Save Energy & Water Kit 13
Slide 14: Save Energy & Water Kit Program
Save Energy & Water Kit Program Impact Evaluation Key Findings Evaluation period: July 2020 – June 2021. 40.5k kit recipients in DEC and a little more than 21k in DEP (~61.5k recipients in total). Savings were estimated using an engineering analysis along with data collected from the participant
Slide 15: Save Energy & Water Kit Program
Save Energy & Water Kit Program Process Evaluation Key Findings Evaluator conducted interviews with DE program team as well as web surveys with participating households (DEC in 176 and 106 in DEP). Most participants are highly satisfied with the overall program (85% DEC; 76% DEP). Majority of
Slide 16: Residential New Construction
Residential New Construction 16
Slide 17: DEP 2021 – 2022 Residential New Construction Evaluation
DEP 2021 – 2022 Residential New Construction Evaluation DEP’s Residential New Construction Program Impact Evaluation Findings provides incentives to participating home Energy Realization Rate: 101% builders for incorporating energy efficient Summer kW: 100.8% practices into the construction of new h
Slide 18: DEP 2021 – 2022 Residential New Construction Evaluation
DEP 2021 – 2022 Residential New Construction Evaluation 18 | 18
Slide 19: Key Takeaways
Key Takeaways Builder Satisfaction Remains High Electric Appliance Opportunities Exist ▪ 85% of builders indicated between 8-10 satisfaction ▪ 51% of builders reported that 75% - 100% of the with overall program homes they build include a gas connection Insulation, Windows, and Envelope Demand for E
Slide 20: Manufactured Homes Winter Peak Study
Manufactured Homes Winter Peak Study
Slide 21: Manufactured Homes Winter Peak Study
Manufactured Homes Winter Peak Study DSM/EE Carolinas Collaborative – May 22, 2024
Slide 22: Defining “Manufactured” Homes
Defining “Manufactured” Homes ▪ 1974 National Mobile Home Construction and Safety Act ▪ 1976 Housing and Urban Development (HUD) – Manufactured Home Construction and Safety Standards ▪ The US Housing Act of 1980 o DOE Notice of Proposed Rule Making for 2025 In collaboration with Report by
Slide 23: A Statewide Opportunity
A Statewide Opportunity In 20 of North Carolina’s 100 counties, it constitutes more than 30 percent of the occupied housing stock (see Figure 1) University of North Carolina School of Government - 2005 “Manufactured housing is an important component in North Carolina’s overall housing market and a c
Slide 24: Duke Energy: Contributing Factors to Winter Peak
Duke Energy: Contributing Factors to Winter Peak • Manufactured homes were a particularly large contributor to the winter system peak Mfg. Home In collaboration with Report by
Slide 25: Advanced Energy’s Past Work
Advanced Energy’s Past Work • National Manufactured Home Weatherization Standard • CARES and ARPA Act Home • National Standard Work Retrofits via NCDEQ Specifications • 115 Homes Impacted • 114 HVAC Systems • Manufactured Home Retrofit • 40 Water Heaters Videos and How-to guides • $952,000 of Progra
Slide 26: North Carolina Electric Heating Study: Tasks 1, 2 & 3 Deliverables
North Carolina Electric Heating Study: Tasks 1, 2 & 3 Deliverables • Task 1 - AMI Population Analysis: • Lead: Tierra • Regression models by heating type and location for typical and peak weather, applicable to the population of manufactured homes in Duke Energy territory • Task 2 - Field Data Colle
Slide 27: Task 2 - Field Inspections & Data Logger Deployment
Task 2 - Field Inspections & Data Logger Deployment In collaboration with Report by
Slide 28: Study Overview
Study Overview High High EUI intensity & Measures Funding ASHP High freq. Insulate & Seal, Utility Duct Seal, Program 29 Controls, s, Study High Behavior DR, Federal Homes intensity & Medium EUI & Equipment Program Low freq. Changeout s Electric Low Furnace intensity & Low EUI High freq. Low intensi
Slide 29: ASHP Vs EF Performance at Low Temperatures
ASHP Vs EF Performance at Low Temperatures High High EUI intensity & Measures Funding ASHP High freq. Insulate & Seal, Utility Duct Seal, Program 29 Controls, s, Study High Behavior DR, Federal Homes intensity & Medium EUI & Equipment Program Low freq. Changeout s Electric Low Furnace intensity & Lo
Slide 30: ASHP & EF - Performance at Low Temperatures
ASHP & EF - Performance at Low Temperatures High Energy Users Medium Energy Users Low Energy Users N=29 In collaboration with Report by
Slide 31: ASHP - Performance at Low Temperatures
ASHP - Performance at Low Temperatures High Energy Users Medium Energy Users Low Energy Users N=18 In collaboration with Report by
Slide 32: EF - Performance at Low Temperatures
EF - Performance at Low Temperatures High Energy Users Medium Energy Users Low Energy Users N=11 In collaboration with Report by
Slide 33: ASHP & EF - Performance at Low Temperatures
ASHP & EF - Performance at Low Temperatures • The ultimate cold weather demand can be equally high for ASHP and EF manufactured homes. • Some EF manufactured homes are actually very good performers in extremely cold weather. • The worst performance trends hold from higher temperatures. Manufactured
Slide 34: Submeter Derived Retrofit Measures
Submeter Derived Retrofit Measures High High EUI intensity & Measures Funding ASHP High freq. Insulate & Seal, Utility Duct Seal, Program 29 Controls, s, Study High Behavior DR, Federal Homes intensity & Medium EUI & Equipment Program Low freq. Changeout s Electric Low Furnace intensity & Low EUI Hi
Slide 35: Deriving Retrofit Measures from Submeter Data
Deriving Retrofit Measures from Submeter Data High Demand Frequency In collaboration with Report by Low Demand Intensity High
Slide 36: Deriving Retrofit Measures from Submeter Data
Deriving Retrofit Measures from Submeter Data High Insulate & Seal Duct Seal Controls Demand Frequency In collaboration with Report by Low Demand Intensity High
Slide 37: Deriving Retrofit Measures from Submeter Data
Deriving Retrofit Measures from Submeter Data High Insulate & Seal Duct Seal Controls Demand Frequency Equipment Changeout Controls In collaboration with Report by Low Demand Intensity High
Slide 38: Deriving Retrofit Measures from Submeter Data
Deriving Retrofit Measures from Submeter Data High Insulate & Seal Insulate & Seal Duct Seal Duct Seal Equipment Changeout Controls Controls Demand Frequency Equipment Changeout Controls In collaboration with Report by Low Demand Intensity High
Slide 39: Deriving Retrofit Measures from Submeter Data
Deriving Retrofit Measures from Submeter Data High Insulate & Seal Insulate & Seal Duct Seal Duct Seal Controls Equipment Changeout Behavioral DR Controls Education Behavioral DR Education Demand Frequency Equipment Changeout Controls Behavioral DR Education In collaboration with Report by Low Deman
Slide 40: Deriving Retrofit Measures from Submeter Data
Deriving Retrofit Measures from Submeter Data Retrofit Options Retrofit Options High Home ID Insulate & Seal Insulate & Seal Duct Seal 02, 04, 08, 13 07, 11, 19, 21, Duct Seal Controls Demand Frequency 15, 16, 18, 22 26 Equipment Changeout Behavioral DR Controls Education 25 Behavioral DR Education
Slide 41: Preliminary Retrofit Recommendations
Preliminary Retrofit Recommendations Advanced Energy and Tierra will test these preliminary recommendations with BeOpt modeling, continued field data collection and, hopefully, real modifications to study homes in 2024. When power trends show: Focus efforts on: High demand frequency Insulate, Air Se
Slide 42: Retrofit Barriers
Retrofit Barriers Upfront and maintenance costs Limited trade knowledge • Cost Conscience Customers • Different techniques • New, high-performance solutions have a price • Smaller market leads to limited service- experience and often higher prices premium Equipment options are limited High risk of u
Slide 43: Scaling Retrofit Measures - Financing
Scaling Retrofit Measures - Financing Recommended Measure Funding Source Equipment Changeout Insulate & Seal Controls Behavioral DR Tariffed on-bill Financing x x x Duke Energy Orchestration Find It Duke x x Smart $aver x x Weatherization x x Neighborhood Energy Saver x x Online Savings Store x x En
Slide 44: Future Steps
Future Steps 1. Work with Tierra to verify our recommended measures with BeOpt modeling through Task 3. 2. Work with Tierra to verify our intensity vs frequency sorting method with AMI data from Task 1. 3. Continue to work with these study homes by implementing our recommended measures. A. Produce a
Slide 45: Thank You
Dr. Daniel Real 919-857-9022 dreal@advancedenergy.org Thank You www.advancedenergy.org 919-857-9000
Slide 46: Abbreviations
Abbreviations • AHU: Air Handling Unit • ASHP: Air Source Heat Pump • BDR: Behavioral Demand Response • DR: Demand Response • EF: Electric Furnace • EUI: Energy Use Intensity • MHFS: Manufactured Homes Field Study • OAT: Outdoor Air Temperature • RNC: (Duke Energy) Residential New Construction • RT:
Slide 47: EM&V – Nonresidential
EM&V — Nonresidential (=, DUKE Ww” ENERGY.
Slide 48: Non-Residential Custom
Non-Residential Custom 48
Slide 49: DEC/DEP Smart $aver Non-Residential Custom 2020 – 2021 Summary
DEC/DEP Smart $aver Non-Residential Custom 2020 – 2021 Summary NR Custom offers financial and technical Impact Evaluation Activities assistance to qualifying commercial, industrial, • 94 on-site project analyses and institutional customers to enhance their ability to adopt and install cost-effective
Slide 50: IMPACTS - DEC
IMPACTS - DEC Table 1-1 DEC Program Reported and Verified Gross Energy Impacts Table 1-2 DEC Program Reported and Verified Gross Summer Peak Demand Impacts ported it Gross Reported Gross Verified Gross Re G Verified Meas: (Pen Strata Energy Bos = Savings —— maar | ss Summer Demand | Summer Demand Sa
Slide 51: IMPACTS - DEP
IMPACTS - DEP Table 1-4 DEP Program Reported and Verified Gross Energy Impacts ‘Table 1-5 DEP Program Reported and Verified Gross Summer Peak Demand Impacts Gross Reported Gross Verified woo Strata ss bere oats summer Demand | Summer Demand on a tegory He) Savings (KW) Savings (KW) ‘Small (<44MWh) 3
Slide 52: Key Takeaways - Impacts
Key Takeaways - Impacts Strong Realization Rates New Construction Continues To Grow ▪ Pre-Approval Requirement, Application Rigor, and ▪ Whole Building kWh Savings in DEC/DEP Jumped to Technical Analysis are all drivers. 60% in 2020-2021 from 24% in 2018-2019 Lighting Schedule Mismatch Participation
Slide 53: Key Takeaways - Process
Key Takeaways - Process Contractor Satisfaction Remains High ▪ Duke Staff and Vendor Interactions Are Key Drivers of Receptive Customers and Contractors Project Influence ▪ Interviews and phone surveys with trade allies and Financials Overwhelming Drive Customer customers achieved higher than goals
Slide 54: Business Energy Saver
Business Energy Saver 54
Slide 55: DEC/DEP 2020 – 2022 Small Business Energy Saver Program Evaluation
DEC/DEP 2020 – 2022 Small Business Energy Saver® Program Evaluation The SBES program is a direct install program Impact Evaluation Activities offered to qualifying non-residential customer 68 sampled project analyses with on-site verification facilities with <180 kW annual demand. SBES Impact Evalua
Slide 56: DEC/DEP 2020 – 2022 Small Business Energy Saver Program Evaluation
DEC/DEP 2020 – 2022 Small Business Energy Saver® Program Evaluation Table 1-2 Program Reported and Verified Gross Summer Demand Impacts Table 1-1 Program Reported and Verified Gross Energy Impacts Gross Gross Verified Reported Realization Rate Gross Strata Winter Demand Gross Verified Demand (%) Rep
Slide 57: Key Takeaways - Impacts
Key Takeaways - Impacts Strong Realization Rate for Lighting Lighting Remains Dominant Measure ▪ Lighting increased from 86% of total program savings ▪ Conservative assumptions for HOU drove high RR for in 2019-2020 to 92.9% in 2020-2022. lighting. Diverse Customer Population Poor Realization for HV
Slide 58: Key Takeaways - Process
Key Takeaways - Process Customer Satisfaction Remains High Confusion around $ vs. energy savings ▪ Duke Staff and Vendor Interactions Are Key Drivers ▪ Some customers were not satisfied with their level of dollar savings after participating. High NTG Due to Low Free-Riders Receptive Customers and Co
Slide 59: Recommendations
Recommendations Update Deemed Savings Assumptions Lighting baselines and TRMs have been updated since last evaluation and measure updates. Operating Schedules Often Different Additional information about holiday schedules, weekends, and/or customer verification of schedule may help improve kW RR Col
Slide 60: PowerShare
PowerShare 60
Slide 61: 2022 – 2023 DEC PowerShare Program Evaluation
2022 – 2023 DEC PowerShare® Program Evaluation The PowerShare program is a DR program offered to Key Findings commercial and industrial customers in DEC. PowerShare • Guidehouse estimated an average total curtailment of 360.02 MW offers participating customers a financial incentive to across the two
Slide 62: 2022 – 2023 DEC PowerShare Program Evaluation
2022 – 2023 DEC PowerShare® Program Evaluation Table 1-4. DEC PowerShare Events, June 2022 - May 2023 Event Time Groups Accounts Season Event Date Type (EST) Called Called 6/15/2022 3 pm – 4 pm Test PS-G 9 7/20/2022 3 pm – 4 pm Test PS-G 9 Summer 8/17/2022 3 pm – 4 pm Test PS-G 9 9/21/2022 3 pm – 4
Slide 63: Impacts & Recommendations
Impacts & Recommendations Average Load Reduction Estimated Per- Category Participant Load Reduction (MW) Reported (settlement) 2.10 Verified (evaluation)* 2.28 Realization Rate 108% (Verified / Reported) • Continue to call Emergency Events during times in which system capacity is constrained. Based
Slide 64: CIG-DRA
CIG-DRA 64
Slide 65: DEP 2022-2023 CIG DRA EM&V Results
DEP 2022-2023 CIG DRA EM&V Results DEP’s CIG DRA program is a demand response Key Findings program where commercial, industrial, and 1. Achieved a verified impact of 29.9 MW for the 2023 summer event. governmental customers are incentivized to curtail their loads during events. 2. The evaluation tea
Slide 66: Program Enrollment by Market Sector
Program Enrollment by Market Sector 66 | 66
Slide 67: Replication of DEP Settlement Baseline
Replication of DEP Settlement Baseline ▪ DEP followed the baseline estimation formula from Rider DRA and the settlement results were confirmed. ▪ The DEP algorithm for calculating settlement impacts generates a baseline demand profile for event days based on the demand profiles observed on three non
Slide 68: Key Findings & Recommendation
Key Findings & Recommendation The required approach for estimating settlement impacts likely delivers biased impacts for weekend event or holiday events. This is because the weekend event’s settlement impacts were estimated by using a baseline that was constructed using weekday data, per requirement
Slide 69: Non-Res IRA/IIJA Opportunities
Non-Res IRA/IIJA Opportunities
Slide 70: IAC (Industrial Assessment Center) Grants (IIJA)
IAC (Industrial Assessment Center) Grants (IIJA) Description: IAC Equivalent Companies • For small and medium size manufacturing firms. • AESC • Cascade Energy • Offers up to $300,000 in grants at 50% cost share for EE • CLEAResult projects • Michaels Energy • Firms must implement recommendations fr
Slide 71: USDA REAP (Rural Energy for America Program)- IRA
USDA REAP (Rural Energy for America Program)- IRA Description: Duke Energy Actions The program provides guaranteed loan financing and grant • Identify customers participating in Small funding to agricultural producers and rural small businesses Business Energy Solutions program that are in for renew
Slide 72: Energy Efficiency Conservation Block Grant (EECBG)
Energy Efficiency Conservation Block Grant (EECBG) Duke Energy Actions • Share formula grants with cities and counties within our jurisdictions via Account Executives • Provide updates to our Large Account Management group so they can have ongoing conversations with customers • Business Energy Advis
Slide 73: 179D Tax Deductions – IRA
179 Tax Deductions – IRA Energy-Efficient Commercial Buildings 179D Tax Deduction Tax deductions for projects for interior lighting, HVAC and hot water Duke Energy Actions systems, and building envelope . We have held multiple trainings Amount of deductions increased effective January 2, 2023 with c
Slide 74: Renew America’s Schools– IIJA
Renew America’s Schools– IIJA Renew America’s Schools promotes the implementation of clean energy Duke Energy Actions improvements at K-12 public schools across the country. This first-of- its-kind investment, funded by President Biden’s Bipartisan Duke Energy has identified Infrastructure Law (BIL)
Slide 75: 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)