FOR IMMEDIATE RELEASE
April 16, 2025
MONTGOMERY, AL — A new bill introduced in the Alabama Senate could boost the state’s approach to energy infrastructure. SB304, known as the Powering Growth Act, aims to create new tools to finance critical energy projects across Alabama—supporting both industrial expansion and a more resilient grid.
The legislation proposes the establishment of the Alabama Energy Infrastructure Bank and the Strategic Energy Infrastructure Development Fund, which together would be authorized to issue up to $1 billion in bonds for energy infrastructure projects statewide. An initial $50 million fund would also be set aside to help acquire long lead-time equipment such as transformers and substations.
“This is a big step forward for Alabama’s energy future,” said Daniel Tait, Executive Director at Energy Alabama. “SB304 provides a path to modernize our grid, invest in strategic infrastructure, and potentially unlock cleaner, more resilient energy solutions.”
Key provisions of SB304 include:
- Infrastructure Modernization: The bill supports critical grid upgrades, transmission expansion, and new power generation to meet rising demand—particularly from growing industries.
- Clean Energy Opportunities: While the bill does not explicitly prioritize renewable energy, its framework could be used to support clean energy deployment, storage, smart grid technologies, and other innovations.
- Transparency and Oversight: Built-in protections such as external reviews, annual reporting, and a prohibition on utility monopolization aim to ensure accountability and fairness in how funds are used.
- No Burden on Taxpayers: The proposed bonds are not backed by the credit of the state, ensuring minimal financial risk for Alabama taxpayers.
The bill is scheduled for a hearing today at 3:00 PM by the Senate Committee on Fiscal Responsibility and Economic Development.
Energy Alabama is urging state leaders and utilities to pass and implement SB304 in a way that prioritizes clean, equitable, and future-ready infrastructure development.
###
About Energy Alabama
Energy Alabama is a 501(c)(3), member-supported, non-profit organization dedicated to advancing Alabama’s clean energy future. Through education and advocacy, we empower Alabamians of all ages to embrace clean energy solutions. We champion policies that promote sustainable energy adoption, cultivate a skilled workforce ready to deploy these technologies, and believe in a future where clean energy is accessible to all.
