Bill > SB149

This bill establishes a comprehensive Renewable Portfolio Standard (RPS) for electric utilities in Alaska, requiring load-serving entities to include a certain percentage of electricity generated from renewable energy resources in their power portfolios by specific dates. The bill defines renewable energy resources broadly, including solar, wind, hydropower, geothermal, and waste-to-energy systems, and creates a detailed framework for compliance. Key provisions include incentives for renewable energy projects, such as multiplying the value of wind energy projects by 1.25 and distributed energy systems by 2.0, and establishing a system of renewable electricity credits that utilities can trade. The bill also creates a compliance mechanism with potential fines for utilities that fail to meet the renewable portfolio standard, but provides flexibility through waivers for circumstances outside a utility's control, such as natural disasters or transmission constraints. Utilities can offset noncompliance fines by investing in customer distributed energy systems or energy efficiency technologies, and are exempt from the standard if the entire interconnected electric network meets the aggregate renewable energy goal. The renewable portfolio standard will be phased in, with specific percentage targets to be set by December 31, 2030 and December 31, 2035, and the law is set to take effect on July 1, 2025.

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https://www.akleg.gov/basis/Bill/Detail/34?Root=SB149