The Renewable Energy Fund, administered by Alaska Energy Authority (AEA), is one of the largest sources of funding for renewable energy projects in the state.
In 2008 the Alaska Legislature established a Renewable Energy Fund through the passage of HB 152. The legislation authorized the Alaska Energy Authority to distribute renewable energy grants and set out procedures to be followed to award those grants. The bill also established a state heating assistance program in addition to the federal heating assistance program, and it established an Alaska Renewable Energy Task Force of legislators.
HB 152 promised AEA $50 million annually for the next five years to fund renewable energy projects. An additional $50 million was authorized during a legislative special session for FY09.
Renewable Energy Fund grants are available to electric utilities, independent power producers, governments and government agencies (eg, tribal councils). AEA may recommend grants for feasibility studies, reconnaissance studies, energy resource monitoring, and/or work related to the design and construction of an eligible project. Grants will be awarded based the following criteria:
- Cost of energy per resident in the affected project area relative to other areas
- The type and amount of matching funds and other resources an applicant will commit to the project
- A statewide balance of grant funds to assure funding is made available for feasible projects in all regions of the State
- Project feasibility (technical and economic)
- Project readiness
- Success in previous phases of project development
- Economic benefit to the Alaska public
- Other Alaska public benefit (such as ability to use technology in other parts of Alaska)
- Local Support
For more information on the Renewable Energy Grant Fund, visit the AEA website or contact:
Renewable Energy Fund Grants Administrator
Tel. (907) 771-3048
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