AK SB179

Establishes a renewable portfolio standard requiring regulated electric utilities to derive increasing percentages of net electricity sales from renewable energy resources: 20% by December 31, 2025; 30% by December 31, 2030; 55% by December 31, 2035; and 80% by December 31, 2040.

Defines renewable energy resources to include solar, wind, hydropower, geothermal, waste-to-energy systems, and biofuels, but excludes petroleum, nuclear, natural gas, and coal.

Requires renewable energy credits to be bundled with their associated energy and can only be used once before retirement; allows trading and selling of credits with revenue benefiting customers through power cost adjustments.

Imposes a noncompliance fine of $20 per megawatt hour for utilities failing to meet standards, with commission authority to waive fines for circumstances beyond reasonable control or upon demonstration of good cause.

Requires the Regulatory Commission of Alaska to adopt implementing regulations within two years of the July 1, 2022 effective date.