On April 9, Governor Dunleavy introduced SB 123 and HB 170, legislation that would establish the Alaska Energy Independence Fund (EIF) at AIDEA. The Alaska EIF would function like a green bank, collaborating with private sector banks to develop affordable loans that Alaskans could use to make their homes and businesses more energy-efficient and to install renewable energy systems like rooftop solar. The Alaska EIF would also position Alaska to receive funds from national green bank legislation that is gaining traction in Congress. The state legislation has already moved out of the Senate Labor and Commerce Committee.

On Thursday, April 22 at 3:00 pm REAP will host a one-hour Q&A session for people to learn more about the legislation.

This Zoom session is free to attend.

REAP believes the AK EIF will encourage tens of thousands of Alaskans to take out affordable loans to make energy improvements which will save those Alaskans enough money each month of their energy bills to pay back the loans. This will:

• Lower the already extremely high energy cost burdens on Alaskans;
• Make Alaska’s building stock more energy-efficient and comfortable;
• Create jobs and businesses to meet the increased demand for energy efficiency services and rooftop solar;
• Keep precious energy dollars circulating in Alaska’s economy instead of being spent on energy that is wasted and provides no value and;
• Create a new line of clean energy financing business for Alaska’s financial institutions.