AK SB101

Establishes a renewable portfolio standard requiring load-serving entities to derive 25% of net electricity sales from renewable resources by December 31, 2027, increasing to 55% by 2035 and 80% by 2040.

Allows utilities to meet standards through renewable energy purchases, distributed energy systems, renewable energy credits, and energy efficiency investments; renewable resources must be located within the service area or interconnected transmission network.

Requires load-serving entities to submit annual compliance reports beginning March 1, 2025, with noncompliance fines of $20 per megawatt hour below the standard, subject to waiver for circumstances beyond reasonable control or upon demonstration of good cause.

Mandates net metering for customers with distributed energy systems, crediting accounts monthly at full retail rate for excess energy supplied to the utility, with credits rolling over for up to seven years.

Excludes revenue from renewable energy credit sales from power cost equalization calculations and requires Alaska Energy Authority to report annually on progress developing rural renewable energy resources.