AK HB368

Establishes a clean energy standard requiring load-serving entities to derive 35 percent of net electricity sales from clean energy by December 31, 2036, and 60 percent by December 31, 2051.

Creates a clean energy transferable tax credit of 0.2 cents per kilowatt-hour for clean energy produced at qualifying facilities placed in service after the effective date, with an additional one cent per kilowatt-hour for energy supplied to utilities receiving power cost equalization.

Defines "clean energy" to include electricity from renewable resources, nuclear energy, low-sulfur coal (one percent or less by weight), and carbon-neutral sources with carbon capture or offset.

Allows waivers from compliance standards for up to five years due to circumstances outside reasonable control (weather damage, natural disasters, pandemics, transmission constraints) or upon demonstration of good cause.

Requires load-serving entities to implement accounting systems to track clean energy compliance, with annual reporting to the Regulatory Commission of Alaska beginning March 1, 2025.