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Duke Energy Florida unveils nation's first system capable of producing, storing and combusting 100% green hydrogen

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The innovative DeBary Production Storage System will diversify and strengthen the company's generati...

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Corporate Developments

The innovative project aligns with industry trends towards sustainability, likely enhancing Duke's market perception and future revenues.

FAQ

Why Bullish?

The DeBary project signifies Duke Energy's commitment to innovation and sustainable energy, which historically yields positive market reactions.

How important is it?

The innovative project aligns with industry trends towards sustainability, likely enhancing Duke's market perception and future revenues.

Why Long Term?

The transition to renewable energy will take time but is likely to strengthen Duke's competitive position long-term, as seen with similar initiatives in the industry.

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Duke Energy Florida Introduces Nation's First 100% Green Hydrogen System

Duke Energy Florida (NYSE: DUK) has announced the launch of its DeBary Hydrogen Production Storage System, marking a significant step in renewable energy innovation. Located in Volusia County, this groundbreaking project is the first of its kind in the United States, enabling the production, storage, and combustion of up to 100% green hydrogen. This initiative aims to enhance the company's generation fleet and meet the growing energy demands of its customers.

How the DeBary Hydrogen System Operates

The DeBary Hydrogen Production Storage System leverages the existing solar site at DeBary, where two electrolyzer units are designed to separate water molecules into oxygen and hydrogen. The process works as follows:

  • Electricity generated from solar energy powers the electrolyzers.
  • Oxygen is released into the environment while green hydrogen is captured.
  • The green hydrogen is safely stored in reinforced containers.
  • During peak energy demand, the stored hydrogen is supplied to a modified combustion turbine capable of running on either a blend of natural gas and hydrogen or up to 100% hydrogen.

Significance of the Innovation

The DeBary system enhances the flexibility of natural gas turbines and contributes to the diversification of Duke Energy Florida's generation fleet. By utilizing green hydrogen, which can be generated on-demand, the system can operate independently of time and weather conditions. This capability allows for a more reliable integration of renewable energy sources, like solar, thereby providing cost-effective solutions for customers while accommodating the increasing demand for electricity.

Statements from Duke Energy Leadership

Melissa Seixas, state president of Duke Energy Florida, emphasized the strategic importance of diverse generation sources, stating, "Diverse generation is strong, reliable generation." She acknowledged that the DeBary hydrogen project reiterates the company's commitment to infrastructure investments that meet the escalating energy demands of their customers.

Reggie Anderson, vice president of regulated and renewable energy at Duke Energy Florida, remarked, "The DeBary system allows for safe, reliable generation and storage of clean energy." He expressed pride in this innovation, highlighting its potential long-term impact on the energy industry and customers alike.

Duke Energy Florida's Capacity and Commitment

Duke Energy Florida operates with a robust capacity of 12,300 megawatts, serving around 2 million residential, commercial, and industrial customers across a vast 13,000-square-mile service area. As a subsidiary of Duke Energy (NYSE: DUK), a leading energy holding company, Duke Energy Florida focuses on ambitious clean energy transitions while maintaining reliability and customer value.

Future Outlook and Community Engagement

Duke Energy is actively investing in electric grid modernization and cleaner generation sources, including natural gas, nuclear power, renewables, and energy storage solutions. To learn more about their initiatives, visit duke-energy.com and access the Duke Energy News Center for the latest updates. Follow Duke Energy on social media platforms like X, LinkedIn, Instagram, and Facebook for insights into their innovative journey in energy transition.

For further inquiries, contact Aly Raschid at 800-559-3853 or via social media @DE_AlyRaschid.

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