1. Duke Energy grants $125,000 to South Carolina nonprofits for home repairs. 2. Funds address safety issues preventing energy efficiency upgrades. 3. New pilot program offers free energy improvements to qualifying households in 2024. 4. Increased incentives in 2025 for energy efficiency programs to help customers. 5. Duke Energy focuses on modernizing infrastructure and sustainability.
FAQ
Why Bullish?
Duke Energy's investment in community programs strengthens its customer relationships and brand value. Previous similar initiatives have benefited stock stability and long-term growth.
How important is it?
The focus on humanitarian efforts reflects Duke's commitment to social responsibility, positively influencing its market image and customer retention.
Why Long Term?
Ongoing community support and energy efficiency initiatives will yield positive long-term financial results, similar to past growth driven by enhanced service offerings.
Duke Energy Foundation Awards $125,000 in Grants to South Carolina Nonprofits
Duke Energy (NYSE: DUK) and the Duke Energy Foundation have announced the allocation of $125,000 in microgrants to nine nonprofit organizations across South Carolina. This funding initiative is designed to enhance existing programs that facilitate necessary home repairs, enabling households to qualify for energy efficiency upgrades and achieve long-term cost savings.
Why the Grants Matter
Many homes in South Carolina cannot benefit from essential weatherization programs due to pre-existing health and safety issues. These issues range from roof leaks and electrical hazards to mold, pest infestations, and structural deficiencies. Addressing these concerns is crucial for homeowners to qualify for energy efficiency improvements.
Distribution of Funds
Grants of up to $20,000 were awarded to qualified nonprofit organizations committed to preparing income-challenged households for energy efficiency programs. The funding was made available through a request for proposals process initiated in September. The grant recipients include:
- Citizens United for Redevelopment and Economic Stability for Chester: $10,000
- City of Florence: $10,000
- Emmanuel's Hammer: $20,000
- Habitat for Humanity Greenville County: $20,000
- Habitat for Humanity of York County: $10,000
- Helping Florence Flourish: $10,000
- Rebuild Upstate: $5,000
- Sumter United Ministries: $20,000
- United Way of Hartsville: $20,000
Impact on Communities
Jerry Dudley, Planning Director for the City of Florence, stated, "The Duke Energy Foundation grant will enhance the city's Weatherization and Rehabilitation Program by funding critical home repairs for income-challenged households. Several homeowners are in urgent need of roof repairs." He emphasized that these funds would help the city serve more families and address essential housing needs.
John Lattimore, Chief Program Officer at Habitat for Humanity of Greenville County, also expressed appreciation for the partnership with Duke Energy: "This specific funding will help provide warm, safe, and dry conditions through critical home repairs for several deserving families. The need is great in our community, and partners like Duke Energy allow us to meet more of that need."
Tim Pearson, President of Duke Energy's South Carolina operations, highlighted the importance of addressing safety issues in homes: "Many homes in our state have underlying safety issues that prevent homeowners from participating in energy efficiency and weatherization programs that can significantly moderate energy bills."
Duke Energy's Broader Commitment to Energy Efficiency
Alongside these grants, Duke Energy Progress plans to implement a pilot program in South Carolina in 2024, offering free energy improvements to qualifying households based on income and energy consumption. Additionally, in 2025, Duke Energy will increase incentives and eligibility for many of its energy efficiency and demand response programs throughout South Carolina, thereby expanding opportunities for customers to save money and energy.
For more information on these initiatives, visit duke-energy.com/SummerSavings.
Duke Energy Foundation Overview
The Duke Energy Foundation contributes over $30 million annually in philanthropic support to address community needs where Duke Energy customers live and work. The Foundation is funded entirely by Duke Energy shareholders.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the United States. It serves approximately 8.6 million customers across North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky, collectively owning 55,100 megawatts of energy capacity. The company's natural gas utilities serve 1.7 million customers.
Duke Energy is actively involved in an ambitious energy transition focused on enhancing customer reliability and value while investing in upgrades to its electric grid. This includes commitments to cleaner generation methods such as natural gas, nuclear, renewables, and energy storage.
For further details, visit duke-energy.com and check the Duke Energy News Center. Stay updated by following Duke Energy on X, LinkedIn, Instagram, and Facebook.
Contact Information
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