On June 16, 2010, Alaska adopted a new law that sets a target of generating half of the state’s electricity from renewable sources. The new legislation – formerly known as House Bill 306 – does not contain details on how Alaska will achieve this goal. Nevertheless, the state expects that hydroelectric projects will help the state realize its target by 2025. The legislation marks the highest goal for renewable power amongst any of the US states, beating out California and Hawaii, which have set its targets at 33% and 40%, respectively.
Alaska also passedSenate Bill 220 into law, which provides a $250 million financing scheme for energy efficiency projects. The scheme, run by the Alaska Housing and Financing Corporation, will supply funds for improving public structures, such as schools, government buildings, and the University of Alaska. State buildings will first be evaluated for energy efficiency. Alaska will then begin improvement projects starting with the most inefficient structures. These projects will be scheduled for completion by 2020. Finally, the new legislation establishes an Emerging Energy Technology Fund. This fund offers grants for technological projects that are predicted to be commercially viable within five years.
