Ceres issued the following statement today, after the North Carolina legislature passed energy legislation that included a repeal of the state’s 2030 goal to reduce carbon pollution from the power sector by 70%.
“Businesses value policy certainty and a stable investment environment as they plan for the future. The legislation passed today unfortunately upends that stability. North Carolina businesses have made commitments and directed investment in alignment with the energy policy set forth in HB951 in 2021. This bill is a new abrupt change in energy policy, making the state a less attractive place for forward-looking companies to invest in the future,” said Mel Mackin, director of state policy, Ceres. “Businesses have supported the goals laid out by HB951 because they recognize the vast economic benefits of investing in clean energy and reducing the risks of fuel cost volatility. These businesses also support efforts to ensure the delivery of reliable and affordable power, but that job is not done. For lawmakers to further commit to reliable and affordable power, we urge them to prioritize legislation that will upgrade and modernize the grid to ensure North Carolina can efficiently, affordably, and reliably power its growing economy.”
Major companies in North Carolina have long supported clean power policy at the state level, including the carbon reduction goals of HB951, which passed the legislature with bipartisan support in 2021 requiring utilities to achieve an interim target of 70% reductions by 2030 and the still-standing goal to effectively eliminate carbon pollution from the power sector by 2050. Leading businesses have also worked with Ceres to support policy that modernizes the electric grid to deliver affordable, reliable power to the state’s businesses and residents across the Southeast, including in North Carolina. Those efforts include a statement signed by 12 businesses in support of expanded transmission and grid modernization recommendations, submitted to the North Carolina Utilities Commission as it considered Duke’s carbon plan. That's why several NC companies penned a letter in March urging lawmakers to reject an earlier version of S 266.
Many companies operating in North Carolina and across the country also released a statement in April urging policymakers to upgrade transmission infrastructure, writing that it is “vital to bringing our electric grid into the 21st century and ensuring reliable, affordable electricity to power our business and the economy.” The Power Infrastructure Resiliency & Efficiency (PIRE) Act, introduced by House Energy and Public Utilities Chairman Kyle Hall this session, would require utilities to regularly assess opportunities to upgrade transmission lines by applying various cost-effective technology solutions, ultimately increasing the capacity of North Carolina's grid and avoiding unnecessary investments in new energy infrastructure. Virginia, South Carolina, New Mexico, and Indiana adopted similar commonsense policies in the last year, and several other states across the country are considering adopting similar legislation.
x
About Ceres
Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and resilient economy. With data-driven research and expert analysis, we inspire investors and companies to act on the world's sustainability challenges and advocate for market and policy solutions. Together, our efforts transform industries, unlock new business opportunities, and foster innovation and job growth – proving that sustainability is the bottom line. For more information, visit ceres.org.