US-based utility company DTE Energy has announced an agreement with several organisations across the state of Michigan to collaborate on the company’s future resource plan.
The CleanVision Integrated Resource Plan is a 20-year energy transition plan that will see DTE accelerate its solar and wind investments in Michigan to proliferate the retirement of the company’s coal plants. The deal was struck with a number of stakeholders across the state, such as Attorney General Dana Nessel, the Michigan Public Service Commission and local labour organisations.
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“Our CleanVision Integrated Resource Plan will end our use of coal in 2032 while developing enough Michigan-made renewables to power approximately 4 million homes,” explained DTE CEO and chairman Jerry Norcia.
“Today’s historic agreement is an investment in Michigan’s future, and we are grateful that 21 organisations from across Michigan have joined us in bringing our proposal one step closer to reality.
This partnership and dedication have helped us build the best plan possible for our customers. We are also proud this plan puts our customers first by reducing the future costs of our clean energy transformation by $2.5bn while reliably generating cleaner, affordable energy now and for generations to come,” Norcia added.
DTE targets 85% carbon emission reductions by 2032, 90% by 2040, and carbon neutrality by 2050. Coal firing accounted for 77% of DTE’s power mix in 2005.
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By GlobalDataThe CleanVision plan will see 15,000 MW of renewable energy capacity development in Michigan by 2040. This will add to the plans to create 780MW of energy storage capacityby 2032, more than double that targeted for 2040.
DTE projects that the energy transitions towards renewable sources will reduce future costs levied on customers by $2.5bn. This will be aided by over $11bn in the renewable transition, along with job creation, retraining and home energy efficiency programs.
“Through our CleanVision Plan, we will invest $11bn over the next ten years – helping to retain and grow businesses in Michigan while ensuring the state meets its sustainability goals. This plan also continues our commitment to our employees, customers and communities, and we will direct an additional $110m to support our most vulnerable customers,” Norcia added.
