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TVA Board Discusses Clean Energy and Power Reliability | NewsRadio 1230 AM/99.3 FM | Hopkinsville News Leader

The Tennessee Valley Authority (TVA) board of directors discussed at its quarterly meeting the progress it has made toward achieving its goal of net zero carbon emissions by 2050, as well as the work the power producer will continue to do to ensure reliable energy after affordable price on Thursday.

TVA President and CEO Jeff Lyash says TVA is leading the way in reducing carbon emissions, and currently approximately 60% of its energy generation comes from zero-emission sources, which include nuclear, solar, wind and hydropower plants. However, Lyash says much more work needs to be done to achieve net zero carbon emissions.

While focusing on a clean energy future, the board also emphasized the importance of ensuring reliable power supply. Lyash says TVA met record energy demand in 2023 and will need to double its production capacity by 2050 to continue to meet demand. Lyash says he expects the population in the coverage region to increase by about 22%.

Turning to reliability, TVA added 1,400 megawatts of natural gas and about 800 megawatts of new solar generation to its production. Lyash says natural gas generation has become integral to helping TVA incorporate renewable energy sources into its production.

To ensure power reliability as its coverage area expands, TVA is building more than 3,800 megawatts of additional generation that includes solar, energy storage, combustion turbines and combined-cycle natural gas.

On energy affordability, the board reported that the price of electricity in the first three months of 2024 decreased 4% compared to last year as a result of TVA’s energy generation diversification.

Approximately 12,400 homeowners in TVA’s service region received rebates for energy efficiency improvements that will help lower their electric bills and energy use. According to the report, homeowners saved nearly $6 million on their annual electricity bills.

In addition to serving homes, TVA’s 2024 School Uplift Program is designed to help schools find ways to easily save energy. According to reports, 106 participating schools were awarded $3 million in grants under the program.

For more information about TVA’s clean energy efforts, visit tvaenergy.com.