Detroit, US based electricity utility DTE Energy has reached a unanimous agreement with various stakeholders for its plans to retire the company's coal-fired power plants by 2032, and venture deep into renewable energy chasing a target of over 15 GW 'Michigan-made' capacity by 2042.
This carbon-free power generation will be enough to power close to 4 million homes. Renewable energy generation of this scale will be supported by energy storage which it aims to develop 780 MW by 2030, and exceed 1.8 GW by 2042.
DTE expects an investment of more than $11 billion into this clean energy transition over the next decade.
The company's exit from coal will bring down the share of this fossil-fuel in its electricity mix from 77% in 2005 to 0% in less than 3 decades. Natural gas, however, and nuclear power will remain part of the mix, according to the utility's 20-year CleanVision Integrated Resource Plan.
"Developed over the past two years with the input of DTE's customers and stakeholders, this proposal continues DTE's clean energy transition by accelerating investments in Michigan-made solar and wind energy, speeding up the retirement of coal plants, and developing new energy storage – all reinforcing DTE's commitment to cleaner energy generated reliably and affordably," stated the management.
DTE's CleanVision sets it on the path for 85% carbon emissions reduction by 2032, 90% by 2040 and achieve net zero carbon emissions status by 2050, it added.