Duke Energy Corporation (Holding Company) · NYSE:DUK
Duke Energy Corporation (Holding Company) — Corporate Update (March 2023)
37 slides from Duke Energy Corporation (Holding Company)'s corporate update, Mar 16, 2023
Slide 1: Duke Energy Carolinas Resource Plans Stakeholder Meeting 2
Duke Energy Carolinas Resource Plans Stakeholder Meeting 2 Virtual Meeting – March 16, 2023 *Please note, with the exception of the South Carolina session, this meeting is being recorded. Presentations will be posted on the IRP website, and discussion portions will be kept for internal purposes only
Slide 2: Meeting Ground Rules
Meeting Ground Rules • Respect each other: Help us to collectively uphold respect for each other's experiences and opinions, even in difficult conversations. We need everyone’s wisdom to achieve better understanding and develop robust solutions. • Focus on today’s topics: Please respect the scope of
Slide 3: Attendee Roles: Observers
Attendee Roles: Observers • Please use the “Q&A” feature, on the menu at the bottom of your screen, to submit questions to presenters and Technical Representatives. Please be respectful and focus on issues, not people. • Questions/comments submitted will be seen by all participants. • We will addres
Slide 4: Attendee Roles: Technical Representative
Attendee Roles: Technical Representative • May utilize the camera and unmute themselves. • To manage participation, please use the “raise hand” feature to indicate you would like to join the conversation.
Slide 5: Additional Participation
Additional Participation Meeting materials/recordings will be uploaded to the website: Meeting recordings (Q&A portions of meetings will be removed to adhere to the non- www.duke-energy.com/carolinas-irp attribution rule) and meeting summaries will be uploaded to the website for Information/feedback
Slide 6: 2023 Resource Planning Stakeholder Engagement Overview
2023 Resource Planning Stakeholder Engagement Overview Feb Mar Apr May Jun Jul Aug Sep Meeting 1 Meeting 4 Final Modeling and Feb. 22 Mid/Late-April Document Preparation Introduction & Topics TBD Process Overview IRP Filing Meeting 3 (PSCSC) Technical Session: End of April: March 22 Aug. 15 Load For
Slide 7: Agenda & Level-Setting
Agenda & Level-Setting 9:00am – 9:15am: Introductions and Level Setting INTENT 9:15am – 10:30am: Solar and Solar Plus Storage Provide information and allow for discussion regarding how Duke builds cost and operational assumptions for 10:30am – 10:45am: Break the generic solar, solar plus storage, an
Slide 8: Introductions
Introductions Duke Energy Technical Representatives: Stakeholder Technical Representatives: Justin Brooks Ron DiFelice, Ph.D. Lead Quantitative Analyst, FSO Analytics Energy Storage Consultant, Southern Current Matt Kalemba Dmitri Moundous Director, Distributed Energy Technologies Planning E
Slide 9: Solar Model Assumptions
SOLAR MODEL ASSUMPTIONS
Slide 10: Solar Configurations & Operational Assumptions
Solar Configurations & Operational Assumptions 2023 Resource Planning: Seeking Feedback… Capacity: 75 MW Are bifacial panels expected to remain the predominant panel technology? ILR: 1.4 Bifacial panels and Single-Axis Tracking How does the IRA impact these assumptions? 30-year book life
Slide 11: Preliminary Solar Cost Assumptions
Preliminary Solar Cost Assumptions 2023 Resource Planning: All costs are still in draft form and being finalized. 75 MW Solar PV – Costs may change with more data aggregation Bifacial Single 2023 Draft Capital and Year Axis Tracking- and/or feedback from stakeholders FOM* Costs: Guide Costs reviewed
Slide 12: Solar Plus Energy Storage Model Assumptions
SOLAR PLUS ENERGY STORAGE MODEL ASSUMPTIONS
Slide 13: Solar Plus Storage (SPS)
Solar Plus Storage (SPS) Configurations & Operational Assumptions 2022 Resource Planning 2022 Resources: DC-coupled Solar paired with Storage (50% Battery Ratio, 2-hr) – 75 MW Single-axis tracking bi-facial solar with 40 MW / 80 MWh (2-hour) battery; 1.6 ILR; Max CF ~32% DC-coupled Solar paired
Slide 14: Solar Plus Storage (SPS)
Solar Plus Storage (SPS) Configurations & Operational Assumptions Clipped Energy Duration Curve at Varying ILR (DC : AC POI) 1.0 MWac SAT, bifacial panels 4.50 Daily Clipped Energy, MWh 4.00 3.50 % of Total DC Energy Clipped 3.00 1.6 ILR = 6.7% 2.50 1.4 ILR = 2.4% 2.00 1.2 ILR = 0.2% 1.50 1.00 0.50
Slide 15: Solar Plus Storage (SPS)
Solar Plus Storage (SPS) Configurations & Operational Assumptions Encompass Capabilities in 2023 Modeling assumptions in 2023: Provide Encompass a fixed solar generation profile DC profile for DC coupled; AC profile for AC coupled Encompass dynamically dispatches storage to optimize energy arb
Slide 16: Solar Plus Storage (SPS)
Solar Plus Storage (SPS) Configurations & Operational Assumptions 2023 Resource Planning Seeking Feedback… For all SPS: What limited configurations should be included as Fixed DC or AC solar profile depending on selectable assets? configuration Complexity of DC-connected vs AC-connected? Is
Slide 17: Solar Plus Storage Preliminary Cost Assumptions
Solar Plus Storage Preliminary Cost Assumptions 2023 Resource Planning: All costs are still in draft form and being finalized. 75 MW Solar PV & Costs may change with more data aggregation and/or 2023 Draft Capital and Year 40 MW / 160 MWh feedback from stakeholders FOM* Costs: Storage-Guide Costs re
Slide 18: Lunch Break
Lunch Break Please return at [___]
Slide 19: Interconnection Assumptions
INTERCONNECTION ASSUMPTIONS
Slide 20: Progression of Solar Interconnection Assumptions
Progression of Solar Interconnection Assumptions 2020 IRPs originally limited solar interconnections to 500 MW per year Modified IRP raised limit to 750 MW per year 2022 Carbon Plan allowed for increasing interconnections per year based on further analysis Reviewed two years of transmission
Slide 21: Red-Zone Expansion Plan (RZEP)
Red-Zone Expansion Plan (RZEP) NC Carbon Plan Order acknowledged RZEP transmission projects as necessary to achieve the Carbon Plan and directed a cost allocation mechanism for use in 2023 RFP bid evaluation Benefit-to-cost ratios for RZEP projects range between 5.1 to 22.5 (excluding any carbon
Slide 22: Solar/SPS Interconnection Assumptions
Solar/SPS Interconnection Assumptions Maximum Solar/SPS (MW) Allowed to Connect Annually (by Jan. 1 of year shown) 2027 2028 2029 2030+ 2020 IRPs 500 MW 500 MW 500 MW 500 MW 2022 Carbon Plan 750 MW 1,050 MW 1,350 MW 1,350 MW 2023 Resource 750 MW 1,350 MW 1,350 MW 1,350 MW Plans - preliminary RZEP 1.
Slide 23: Standalone Battery Storage Model Assumptions
STANDALONE BATTERY STORAGE MODEL ASSUMPTIONS
Slide 24: Standalone Battery Energy Storage
Standalone Battery Energy Storage Configurations & Operational Assumptions 2023 Resource Planning: Extended book life to 30 years with an assumed replacement/rebuild in the middle 4 Li-Ion configurations: of life Better alignment to other technologies 2 hours, 4 hours, 6 hours, and 8 hours,
Slide 25: Standalone Battery Energy Storage Preliminary Cost Assumptions
Standalone Battery Energy Storage Preliminary Cost Assumptions 2023 Resource Planning: Costs reviewed include: All costs are still in draft form and being Guidehouse (November, 2022) finalized – costs may change with more data Burns & McDonnell (March, 2023) aggregation and/or feedback from EP
Slide 26: Standalone Battery Energy Storage Preliminary Cost Assumptions
Standalone Battery Energy Storage Preliminary Cost Assumptions 2023 Resource Planning Year 2023 2024 2025 2026 2027 2028 2029 2030 2031 2023 Draft Capital and FOM* costs: 100MW/200MWh 2-hour storage: $1700/kW capital and $16/kW-yr FOM Li-ion Battery-Guide $1,701 $1,528 $1,424 $1,338 $1,274 $1,224 $1
Slide 27: Effective Load Carrying Capability Values
EFFECTIVE LOAD CARRYING CAPABILITY VALUES
Slide 28: ELCC: Solar, SPS, Battery Storage
Solar, SPS, Battery Storage Effective Load Carrying Capability (ELCC) Purpose Variable and Energy Limited Resources may not be able to fully contribute to periods of system strain. ELCC measures the ability of Variable and Energy Limited Resources to assist the system during periods ELCC of stra
Slide 29: ELCC Process
ELCC Process Calibrate the base portfolio to 0.1 event-days per year Loss of Load Expectation (LOLE) with the load set to the last year in the planning horizon (fifteen years out). Add the resource to be measured to the base portfolio. Add fixed block load to all hours of the year and determin
Slide 30: ELCC Surface
ELCC Surface As part of the 2022 ELCC studies, the Companies performed multi-resource ELCC analysis, also referred to as "Surface" ELCC analysis. Two different resources were analyzed at a time to capture any synergistic effects. Solar and Storage Solar and Wind For example, batteries can
Slide 31: 2022 ELCC Study Results
2022 ELCC Study Results The tables below represent the incremental ELCC values attributed to solar resources from the 2022 ELCC study. This study was used in the 2022 Carbon Plan and will be used in 2023 resource planning. DEC Winter Solar Incremental DEP Winter Solar Incremental ELCC Values ELCC Va
Slide 32: 2022 ELCC Study Results, Continued
2022 ELCC Study Results, Continued The tables below represent the incremental ELCC values attributed to standalone battery storage resources from the 2022 ELCC study. This study was used in the 2022 Carbon Plan and will be used in 2023 resource planning. DEC Standalone Storage Incremental DEP Standa
Slide 33: 2022 ELCC Study Results, Continued
2022 ELCC Study Results, Continued Solar Paired with Storage (“SPS”) ELCC The capacity value of storage paired with solar was assumed to be additive between the two resources. The tables below reflect the ELCC values of the total SPS facility for each of the SPS options included in the 2022 Carbon P
Slide 34: Additional SC-specific Comments and Questions
South Carolina Session: Additional SC-specific Comments and Questions Heather Shirley Smith Vice President, Regulatory Affairs and Policy (SC) Leigh Tondini Utility Strategy Director (SC) Sam Wellborn Associate General Counsel (SC) Earlier Identified Technical Representatives South Carolina Se
Slide 35: Additional Participation
Additional Participation Meeting materials/recordings will be uploaded to the website: Meeting recordings (Q&A portions of meetings will be removed to adhere to the non- www.duke-energy.com/carolinas-irp attribution rule) and meeting summaries will be uploaded to the website for Information/feedback
Slide 36: Next steps
Next steps: • Questions/feedback can be sent to DukeCarolinas@gpisd.net • The next meeting will take place on Wednesday, March 22.
Slide 37: Thank You
@SO | GREAT PLAINS | setter Eneray Sv | INSTITUTE Better World THANK YOU