Legislators mull $500 million renewable energy fund extension
February 10, 2012
By Russel Stigall of Juneau Empire: Since its inception in 2009, Alaska’s Renewable Energy Fund has funneled tens of millions of dollars to renewable energy projects across Alaska. To date, 21 projects have been completed and, with the projects in the pipeline, it is estimated that projects funded by the program could save Alaskans 11.6 million gallons of fuel per year in 2016.
Sponsored by Reps. Thomas, Peggy Wilson, and Millett with Austerman, Edgmon, Herron, Miller and Peterson, House Bill 250 seeks to extend the fund, at $50 million annually, under the management of the Alaska Energy Authority to 2023. The fund is currently set to fold in 2013. Passing the bill this year would allow AEA to continue to manage the fund and renewable energy developers could count on funds to continue to flow uninterrupted.
To identify ways to increase efficiencies in the process used in the program, the Energy Authority has commissioned an independent evaluation by Vermont Energy Investment Company. Selected via a competitive process, Vermont is assisted by the Alaska Center for Energy and Power to provide information and recommendations. More