(JUNEAU) - Representative Jay Ramras (R-Fairbanks) introduced HB 196 today, legislation that allows the Alaska Industrial Development and Export Authority (AIDEA) to provide 10-year interest free loans for the development of alternative energy in Alaska.

"While we have large carbon-based energy resources in the state, much of the world is looking for alternative sources such as wind, hydrogen, geothermal, bio mass, hydroelectric and tidal. Alaska has all of these alternatives available. They just need to be developed," Representative Ramras said.

He added, "I believe Alaska can be a leader in the nation by finding creative ways to promote development of alternative energy. Golden Valley Electric Association has determined through extensive polling that Alaskans and the citizens of Fairbanks are interested in developing renewable resources." A no-interest loan program will help Alaska develop energy for not only small communities, but eventually for remote site natural resource exploration and development.

The implications for alternative energy will have the most impact in rural parts of the state. Each year the legislature spends millions of dollars providing power cost equalization to subsidize fuel costs to rural communities. Alternative forms of energy could provide the needed power rural Alaska needs and greatly reduce that cost. "This creates innovation and saves the state money and these are both good things," Ramras said.

HB 196 will be heard first in the House Labor and Commerce Committee and then the Finance Committee.

# # #