CSSB 150(RES) - Emerging Energy Technology Fund

• Establishes the emerging energy technology fund consisting of legislative appropriations, gifts, bequests, contributions, and federal money to provide grants and loans for energy projects.

• Fund administered by the Alaska Center for Energy and Power at University of Alaska, with authority to make grants or loans for research, development, and demonstration projects testing new energy technologies or improving existing technologies, with expectation of commercial viability within five years.

• Prioritizes funding for Alaska residents and entities, projects with University of Alaska or Alaska postsecondary institution partnerships, and projects with matching funds or in-kind partnerships.

• Establishes five-member advisory committee appointed by governor to staggered three-year terms, with representatives from renewable energy, fossil fuel energy, electric utility, Denali Commission, and state agencies; members receive per diem and travel expenses but no compensation.

• Defines eligible applicants as electric utilities, independent power producers, local governments, tribal councils, businesses with Alaska licenses, and nonprofit organizations; defines energy technology broadly to include renewable sources, conservation, and integrated energy systems.