DTE proposes renewable energy investment, emission reductions
(CBS DETROIT) - DTE Energy released a proposal to change how the company will generate energy over the next 20 years.
The company says the CleanVision plan will invest in solar and wind energy as well as a modern grid that is reliable and affordable. The plan will be filed with the Michigan Public Service Commission.
Key details in the plan include:
- Transforming how the company generates electricity over the next two decades.
- Developing more than 15,000 MW of renewables to power homes, as well as businesses and industrial facilities. This renewable energy generation is equivalent to powering approximately 4 million homes.
- Building more than 1,800 MW of energy storage to support the Company's clean energy transformation – more than doubling current storage capacity.
- Ending DTE's use of coal in 2035 with a responsible, phased retirement schedule of the Belle River and Monroe coal power plants, which account for approximately 40% of the Company's current energy mix.
- Accelerating the retirement of coal at the Belle River Power Plant to 2026 from 2028.
- Launching the phased retirement of the Monroe Power Plant, one of the largest coal plants in the country, in 2028, nearly 12 years earlier than the original planned date of by 2040, supported by future 24/7 emerging technologies.
- Delivering long-term customer value through:
- Projecting $1.4 billion in future cost reductions.
- Repurposing an existing coal power plant at a fraction of the cost of building a new plant while accelerating reductions in carbon emissions.
Additionally, the company plans to surpass its carbon emission reduction goals by achieving 32% CO2 emission reductions in 2023; reducing CO2 emissions 65% by 2028; targeting 85% CO2 reduction in 2035; targeting 90% CO2 reduction by 2040 and meeting its ultimate net zero goal by 2050.
"Across the country, and here in Michigan, the energy landscape is changing rapidly and fundamentally," Jerry Norcia, chairman and CEO of DTE Energy, said in a press release. "We are excited to drive this transformation by powering the grid with Michigan-made renewable energy, existing nuclear and natural gas. These new solar and wind assets, enough to power approximately 4 million households, will replace our retiring coal power plants, resulting in a cleaner environment for Michigan families, communities and businesses."
Click here for more information on the plan.
