There have been suggested alternatives, e.g., photons' losing momentum due to interactions with plasma. I just reviewed a paper which actually found that this mechanism accounted for the variations, as one varies one's line-of-sight, in the empirically observed value of Hubble's constant. I.e., the statistical fluctuations in the measurement of Hubble's constant vary by 20,000 parts per million, depending on which line-of-sight you adopt.
Here is a quote, "The all-sky maps of the observed variation of Hubble's constant can be reproduced from a theoretical point of view by introducing an intergalactic plasma with a varying density of electrons."
The paper, which I thought was reasonable and deserved publication, quotes other respectable papers in the literature, including a review paper by L. Marmet, L.~{Marmet}, {Survey "Survey of Redshift Relationships for the Proposed Mechanisms at the 2^{}$\{$nd$\}$2nd Crisis in Cosmology Conference}Conference", in: {FF.~Potter} Potter (Ed.), \textit{Astronomical Society of the Pacific Conference Series}Astronomical Society of the Pacific Conference Series, Vol. 413, 2009, 315--335.
For more on the intergalactic plasma of electrons, see D.~L L. {Mamas}Mamas, {An"An explanation for the cosmological redshift}redshift", {\it Physics Essays}Physics Essays {\bf 23}23 (2010), 326.
None of the suggested alternatives have yet received a consensus of acceptance by those who favour the Doppler effect explanation, which is the consensus explanation accepted at present.