Alaska Permanently Extends State’s Renewable Energy Fund Grant Program

Source: NASEO

On May 25, 2023, Alaska Governor Mike Dunleavy signed House Bill 62 which permanently establishes the state’s Renewable Energy Fund (REF) grant program. This legislation recognizes the REF’s efficacy and positive impact in providing financial assistance for studying, developing, and integrating proven and nascent renewable energy technologies across the state. The REF is a competitive grant program that funds biomass, energy storage, heat recovery, hydroelectric, solar, and wind. The REF has been instrumental in advancing Alaska's energy portfolio diversification.

“The Renewable Energy Fund has a successful track record of increasing energy security for Alaskans, and I look forward to continued innovation benefiting Alaskans by providing more reliable and affordable energy,” said Governor Mike Dunleavy.

The REF was established in 2008 and periodically funded by the state Legislature, distributing over $317 million over 15 years. Since its inception, over 100 operating projects have been built with REF contributions, collectively saving more than 30 million gallons of diesel each year. Importantly, REF dollars are not the only source of funds to build these renewable energy projects; they have attracted $229 million in matching funds from other sources. Additional information on the REF program can be found here.