CSHB 301 Summary

• Establishes a clean energy standard requiring load-serving entities subject to electric reliability organization standards to source 25 percent of net electricity sales from clean energy resources by December 31, 2027, and 55 percent by December 31, 2040.

• Sets an aggregate statewide target of 80 percent clean energy sales by December 31, 2050 across all load-serving entities on interconnected transmission networks.

• Defines "clean energy resources" to include wind, solar, geothermal, hydropower, biomass, landfill gas, digester gas, and nuclear power; allows load-serving entities to use purchase power agreements, construction of new facilities, and tradeable clean energy credits to comply.

• Establishes a $20 per megawatt hour noncompliance penalty that must be invested in clean energy generation, with waiver provisions for circumstances outside utility control or good cause demonstrations.

• Exempts projects built to meet the clean energy standard from state lease fees; requires Alaska Energy Authority to submit biennial reports on rural renewable energy development and quinquennial reviews of additional technologies for the clean energy resource definition.