The Alaska Renewable Energy Fund (REF) provides benefits to Alaskans by reducing and stabilizing the cost of energy through development of renewable energy projects. The program is designed to produce cost-effective renewable energy for heat and power to benefit Alaskans statewide. The program creates jobs, uses local energy resources, and keeps money in local economies.
The REF was established by the Alaska State Legislature in 2008, and in 2012 was extended 10 years to 2022. The REF is managed by the Alaska Energy Authority in coordination with a 9-member Renewable Energy Fund Advisory Committee. The program provides public grant funding for the development of qualifying and competitively selected renewable energy projects in Alaska.
As of January 2018, operational REF projects have an overall benefits cost ratio of 2.5 based on total known project cost, of which State funding is only a portion. Investing in renewable energy provides price stability and will save Alaska communities millions of dollars for decades to come.
RENEWABLE ENERGY FUND STATUTES & REGULATIONS
Statutes are available here.
Regulations are available here.
For an up-to-date snapshot of AEA’s Renewable Energy Fund (REF) program activities, please see our downloadable Factsheet.