House Bill 306 sets a goal for Alaska to generate 50 percent of its electricity through renewable resources by 2025, while Senate Bill 220, the Alaska Sustainable Energy Act, implements a statewide energy policy that identifies Alaska’s vast renewable energy potential. The bill includes a broad range of policy tools designed to attract investment in Alaska’s energy sector and stimulate the economy.
Alaska’s 2010 Declaration of State Energy Policy (HB 306-2010), specifically to encourage economic development by:
- promoting the development of renewable and alternative energy resources, including geothermal, wind, solar, hydroelectric, hydrokinetic, tidal, and biomass energy, for use by Alaskans;
- promoting the development, transport, and efficient use of nonrenewable and alternative energy resources, including natural gas, coal, oil, gas hydrates, heavy oil, and nuclear energy, for use by Alaskans and for export;
- working to identify and assist with development of the most cost-effective, long-term sources of energy for each community statewide;
- creating and maintaining a state fiscal regime and permitting and regulatory processes that encourages private sector development of the state’s energy resources;