10 Most Profitable Renewable Energy Stocks Now

6. Duke Energy Corporation (NYSE:DUK)  

Upside Potential: 10.62%  

5-Year Net Income CAGR: 4.09%  

TTM Net Income: $4.32 Billion  

Duke Energy Corporation (NYSE:DUK) based in North Carolina, is one of the largest utilities in the US. The company provides electricity to approximately 8.4 million customers and manages around 54,800 megawatts of energy capacity. Duke Energy Corporation (NYSE:DUK) is heavily investing in wind, solar, and battery storage to transition to renewable energy.

On October 22,  Duke Energy Corporation (NYSE:DUK) announced the expansion of its Green Source Advantage Choice (GSA-C) program in North Carolina, which allows large business customers to support renewable energy development by supplementing their power usage with 100% renewable, carbon-free generation. This program builds upon the success of the company’s legacy Green Source Advantage program, which has helped large businesses make decarbonization a long-term part of their business plans.

The GSA-C program provides large business customers with a path towards having 24/7 clean energy and enables them to count the renewable energy generated to satisfy their sustainability goals. The program has been expanded to offer up to 5,000 megawatts (MW) of capacity, which is more than five times the capacity available under the original program. This expanded capacity will allow more businesses to participate and support renewable energy development.

Duke Energy Corporation (NYSE:DUK) is offering several options for customers to participate in the GSA-C program. The “Bring Your Own Purchased Power Agreement” (PPA) option allows customers to bring their own renewable energy supplier, while the “Resource Acceleration Option” (RAO) offers an additional 300 MW of capacity every two years. A new “easy option” also allows customers to collaborate directly with Duke Energy Corporation (NYSE:DUK) on new facilities that will be coming online in the future.

Later this year, Duke Energy Corporation (NYSE:DUK) plans to file the Clean Energy Connection program with the North Carolina Utilities Commission, which will offer a subscription-based community solar program for customers to meet their sustainability goals. Similar programs have also been approved and are underway in South Carolina.