The application period for Round 15 of the Renewable Energy Fund (REF) is now closed. AEA will now review and evaluate those applications timely received. Please be reminded that the REF is a competitive grant program and that funding is not guaranteed. Any and all funding amounts for those recommended applications are subject to Legislative approval and appropriation for the Fiscal Year 2024.
The REF provides benefits to Alaskans by reducing and stabilizing the cost of energy through the development of renewable energy projects. The program is designed to produce cost-effective renewable energy for heat and power to benefit Alaskans statewide. The REF was established by the Alaska State Legislature in 2008, and in 2012 was extended 10 years to 2023.
The REF is managed by AEA in coordination with a nine-member REF Advisory Committee. The program provides grant funding for the development of qualifying and competitively selected renewable energy projects. Since its inception 271 REF grants have been awarded and funded via legislative appropriations totaling $300 million. Over 100 operating projects have been built with REF contributions, collectively saving more than 30 million gallons of diesel each year.
In Round 14 as solicited in 2021, 27 applications were recommended to and approved by the Legislature for a total appropriation of $15 million, the largest capitalization of the program since Fiscal Year 2014. The State’s continued investment in renewable energy projects through the REF program reduces the cost of energy, creates jobs, utilizes local energy resources, keeps money in local economies, and fosters economic development.
Renewable Energy Fund Projects by Energy Region
Statutes are available here.
Regulations are available here.
For an up-to-date snapshot of AEA’s REF program activities, please see our downloadable Factsheet.
Join the REF email list to receive email notifications regarding requests for applications, changes to the application process, and related communications. To subscribe, click here and follow the subscription instructions. You will be sent an email requesting confirmation of your subscription.