Renewable Energy Fund

Renewable Energy Fund Round 16 Application Period Closed

The application period for the Renewable Energy Fund (REF) Round 16 is now closed. Thank you to all applicants who submitted grant applications for the fiscal year 2025. On January 26, 2024, the Alaska Energy Authority (AEA) submitted recommendations from Round 16 for 24 projects at a total capital request of $32 million to the Alaska State Legislature for their consideration of project funding. Grant funds for those Round 16 projects submitted under recommendation from AEA, in concert with the REF Advisory Committee, are subject to legislative appropriation and gubernatorial approval. Please be reminded that the REF is a competitive grant program and that funding is not guaranteed. All funding amounts for those recommended applications are subject to Legislative approval and appropriation for the fiscal year 2025.

About REF

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 2023 with the passage of House Bill 62 the sunset date was removed from Alaska Statute extending the program in perpetuity.

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 289 REF grants have been awarded and funded via legislative appropriations totaling $317 million. Over 100 operating projects have been built with REF contributions, collectively saving more than 30 million gallons of diesel each year.

In Round 15,18 projects were approved by the Legislature for a total appropriation of $17 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.

REF Impact and Evaluation Report

AEA commissioned BW Research Partnership to conduct economic and environmental impact assessments of the REF program, including grantee and executive surveys. According to the report, the REF has been instrumental in advancing Alaska's renewable energy development. With ongoing investment in the program, the REF continues to support Alaska's transition to a clean energy economy and enables AEA to diversify Alaska's energy portfolio, increasing resiliency, reliability, and redundancy through the deployment of viable renewable energy sources. Click here to view the report.

REF Projects Round 1-14

Renewable Energy Fund Projects by Energy Region

REF Statutes and Regulations

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.

Sign Up for Email Updates

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.