Establish an Emerging Energy Technology Fund

The Need

The creation of the Renewable Energy Grant Fund in 2008 was a critical first step in the process of promoting a secure, clean energy future for Alaska. However, the Renewable Energy Fund is only one component of a renewable energy program and was not designed to fund developing technologies that are not yet fully commercialized like tidal, geothermal or battery storage. Because of Alaska’s unique remote communities and abundant renewable energy resources, our state has an excellent opportunity to become a world leader in emerging renewable energy development. Unlike any other place in the nation, Alaska can demonstrate new technology and save consumers money at the same time because energy prices in rural communities are already so high. In order for Alaska to be part of what many are calling the next industrial revolution in energy innovation, Alaska needs to create its own “Emerging Energy Technology Development Fund.”  Establishing an Emerging Technology Fund is also necessary to help grow our cutting edge University programs and create a highly valued workforce.

With the Governor’s recent announcement that the goal of the State of Alaska shall be to obtain 50% of its electricity from renewable energy sources by the year 2025, the state has set an important target. Establishing an emerging energy technology development fund is a necessary and timely component of reaching that goal, stabilizing energy costs and diversifying Alaska’s economy. It could also favorably position Alaska to receive a larger portion of the upcoming $700 billion economic stimulus package. A significant portion of the federal money will fund energy infrastructure, including renewable energy projects, new transmission lines, and research and development of emerging energy technologies and those states with existing emerging technology development programs will be first in line for federal grant money.

The Proposal

The Alaska Conservation Alliance supports the creation of the Emerging Energy Technology Development Fund proposed by the Renewable Energy Alaska Project (REAP), a coalition of urban and rural Alaska utilities, businesses, conservation and consumer groups, and Alaska Natives. The Emerging Energy Technology Development Fund should help Alaska become a leader in research and implementation of technologies for battery storage, tidal and wave power, biomass gasification, and hydrogen generation, as well as transportation and storage of energy. The Fund should provide both grants and loans to university researchers, non-profits, private industry and local governments to fund research and development, demonstration projects and market transformation of renewable and alternative energy technologies that have a high likelihood of becoming economically and technologically viable in the short term. Equally important, the Fund should provide coordination and funding for targeted work force development and education programs that will train Alaska’s next generation of construction workers, technicians, engineers and scientists that will guide us through the next century of energy innovation. After all, the $55 billion/year “clean energy” business is expected to at least quadruple worldwide by 2015.

The Benefits

• Develop commercially promising emerging energy technologies for use both in Alaska and in the
world-wide market.
• Puts Alaska in prime position to tap into $700 billion Federal stimulus program.
• Alaska can demonstrate new technology and save rural energy consumers money.

For more information contact the Juneau Watchdog at alli@akcenter.org.

Thanks to Alaska Conservation Alliance for the content of this page.