Energy company DTE Energy announced to cut its carbon emissions by more than 80% by 2050 through a broad sustainability initiative that involves in adding 6GW of renewable energy capacity.
"Over the past two years we have studied the engineering and economics of Michigan's energy future very, very carefully," said Gerry Anderson, DTE Chairman and CEO. "We have concluded that not only is the 80 percent reduction goal achievable – it is achievable in a way that keeps Michigan's power affordable and reliable. There doesn't have to be a choice between the health of our environment or the health of our economy; we can achieve both."
DTE Energy will cut its carbon emissions by 30% by 2020s, by 45% by 2030, by 75% by 2040, and finally by 80% by 2050. The company will achieve these reductions by incorporating substantially more renewable energy, transitioning its 24/7 power sources from coal to natural gas, continuing to operate its zero-emission Fermi 2 power plant, and strengthening options for customers to save energy and reduce bills.
The reduction goal, new energy mix, and the 2050 timeframe were identified as necessary to help address climate change.
The sustainability initiative include the construction of an additional 6GW of renewable energy capacity, supplementing the 1GW capacity that DTE Energy has built since 2009. DTE Energy will add 3.5GW of natural gas-fired energy capacity to supply 24/7 power and endure reliability.
The new construction will be partially realized with an investment of approximately US$ 5 billion over the next five years. The investment will be use to modernize the electric grid and gas infrastructure, ensuring reliability. Future investment in energy efficiency and energy waste reduction will also be arranged.
"I want to be clear that this plan is more than a commitment to a long-term goal in 2050," Anderson said. "We have already begun fundamental transformation in the way we produce power, and we will press that transformation forward steadily in the years and decades ahead, sharply improving environmental outcomes in the process."
Anderson said the transformation of the way DTE Energy produce power is in full swing.