Duke Energy Sustainable Energy Solutions

Duke Energy executives say the company is now in a "new era" after it sold off its two unregulated commercial renewable energy businesses last month. Officials say that leaves Charlotte-based Duke as a fully regulated company poised to grow revenues and profits.

Duke Energy has reached a deal to sell its unregulated commercial wind and solar business for $2.8 billion. And it says it's making progress on the sale of another division that provides rooftop solar to businesses.

Duke Energy reported a $531 million loss for the fourth quarter as it wrote down the value of its commercial renewable energy business that's up for sale. The Charlotte-based company also announced plans to cut $300 million in expenses this year, including through layoffs mainly in Charlotte.

Two new North Carolina solar farms owned by a subsidiary of Duke Energy have begun generating electricity. And for the first time, they're selling it to the company's regulated consumer side.

Duke Energy is helping the city of Austin, Texas, meet its carbon-reduction goals by selling power from a solar farm that began commercial operation this week. It's one of two projects now up and running that bring Duke's total renewable energy output above 10,000 megawatts.