ALASKA ENACTS RENEWABLE ENERGY OMNIBUS BILLS
Gov. Sean Parnell signed two bills today to establish a statewide energy policy that will stimulate Alaska’s economy by attracting renewable energy investment. S.B. 220, the Alaska Sustainable Energy Act, establishes a $250 million Energy Efficiency Revolving Loan Fund to give school districts, state and local governments and the University of Alaska system access to low-interest loans to achieve energy savings. A provision to create a renewable energy production tax credit was removed from the bill but may be revisited next year. The State Energy Policy, H.B. 306, sets a goal for Alaska to generate 50 percent of its electricity through renewable resources by 2025, primarily through hydropower projects.