HILLSBOROUGH COUNTY, Fla. — Tampa Electric (TECO) announced it will be contributing $5 million to the University of South Florida's College of Engineering's Clean Energy Research Center in an effort to meet its target of having net-zero carbon emissions by 2050.
"Renewable energy resources provide substantial benefits to our society, economy and overall health through job development and creation, and reduced carbon emissions and pollution," said Robert H. Bishop, Dean of the USF College of Engineering. "The development of environmentally friendly, clean energy systems provides enormous benefits and opportunities to society through reduced dependence on non-renewal fuel sources and reduction of greenhouse gasses and air pollution."
TECO said emerging technologies and ideas are crucial to achieving the objective of net-zero carbon emissions. The $5 million gift, which will be made possible by shareholder funds, will be used by the Clean Energy Research Center (CERC) to create an endowed fund to assist in the study and creation of cutting-edge energy technology.
“This partnership is a key pillar in our vision to achieve net-zero carbon emissions by 2050,” said Archie Collins, president and chief executive officer of Tampa Electric. “We have made great progress: Carbon emissions today are half what they were in 2000, and our investment in solar power has reduced fuel costs by more than $100 million this year. But our vision of a net-zero future will not be an easy journey. The path will undoubtedly include emerging technologies and innovations. We feel a responsibility to help fund and spur that innovation, and what better partner than the talented team at USF.”
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TECO is the state's leading consumer of solar energy, contributing close to 900 megawatts (MW) of solar power, and has already made substantial progress toward its goal of net-zero emissions by reducing its use of coal by 90% since 2000.
According to TECO, it will produce enough solar energy by the end of 2023 to power 200,000 homes, making it the utility provider in Florida with the highest percentage of solar power generation.
The more than 800,000 consumers of Tampa Electric will not be sacrificed in the pursuit of the company's net-zero emissions target. In fact, the electric firm said it has reduced its environmental effect while maintaining expenses that are far lower than the national average.
TECO plans to cut carbon emissions by 60% by 2025 and 80% by 2040 in order to reach net-zero emissions.
Visit TECO's website on carbon reduction, for more details on its 2050 goals.
