This bill establishes a renewable portfolio standard for electricity generation in Alaska, mandating that load-serving entities include a specified percentage of electricity generated from renewable energy resources in their portfolios. Specifically, the bill requires that 40% of electricity must come from renewable sources by December 31, 2030, and 55% by December 31, 2035. To support compliance, the bill introduces various incentives, including multipliers for wind energy projects and provisions for distributed energy systems. Additionally, it outlines penalties for noncompliance, allowing for fines and potential waivers under certain circumstances, such as natural disasters or contractual failures.

The bill also amends existing regulations regarding the construction of large energy facilities, ensuring that new projects do not hinder a load-serving entity's ability to meet the renewable portfolio standard. It introduces definitions for key terms, such as "large energy facility" and "renewable energy resource," and specifies that costs associated with power cost equalization will exclude revenues from renewable electricity credits. The legislation is set to take effect on July 1, 2025, and includes provisions for the commission to track compliance and manage renewable electricity credits effectively.

Statutes affected:
HB0153A, AM HB 153, introduced 03/24/2025: 42.05.780, 42.05.900, 42.05.785, 42.05.711, 42.05.925, 42.05.760, 42.05.905, 42.05.910, 42.05.915, 42.45.100, 42.45.150, 42.05.920, 42.05.790, 42.45.110