Currently, the dominant energy source for electricity generation in the Arctic is diesel, which is well proven for Arctic conditions. However, diesel is expensive in the Arctic, often due to long and complicated fuel transportation routes, and so inhabitants of Arctic communities can face high electricity costs. This paper investigates whether renewable energy resources can be harvested in a feasible and cost-competitive manner. The paper highlights which renewable energy resources are generally available in the Arctic and analyzes how renewable resources, such as hydropower, wind, and photovoltaics, can be used. Furthermore, we present three specific case studies to provide in-depth insight. A simulation with different energy generation scenarios using different renewable energy sources and penetration levels was performed for each case. The results indicate that renewables can be a cost-competitive option and that the optimal mix of renewables varies for different communities. Stakeholders and experts from the case study communities were also interviewed and their responses indicated a general acceptance of renewables.