SB 220 Summary - Alaska Sustainable Energy Act

• Establishes Alaska energy efficiency revolving loan fund to finance energy efficiency improvements to buildings owned by schools, universities, municipalities, and the state; allows bond issuance up to $250 million to support the fund.

• Creates emerging energy technology fund administered by Alaska Energy Authority to provide grants for demonstration projects of emerging and renewable energy technologies with reasonable expectation of commercial viability within five years.

• Requires retrofit of at least 25 percent of state public facilities by January 1, 2020, if retrofitting results in net energy cost savings within 15 years; new construction must meet ASHRAE/IESNA energy standards.

• Expands Alaska Affordable Heating Program eligibility to 225-250 percent of federal poverty guidelines (previously 150-225 percent) and establishes separate fund managed by Department of Revenue.

• Directs Department of Transportation and Public Facilities to study feasibility of compressed natural gas vehicles for state use and submit report by January 31, 2011; allows municipalities to exempt residential renewable energy systems from taxation.